Christiansburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Christiansburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Christiansburg are higher than the national average. Christiansburg apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Christiansburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Christiansburg are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.58% - 6.82% |
| 7 Year Fixed | 6.42% - 6.66% |
| 10 Year Fixed | 6.38% - 6.62% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Christiansburg.
The city of Christiansburg in Montgomery County has a population of 22,473. The median rent in Montgomery County for a 2 bedroom is $1,051. The median Christiansburg resident is 39 years old with a yearly income of $36,268. The average family has 3.02 members and a median household income of $60,856. Christiansburg has a 36% higher education rate. The unemployment rate in Christiansburg is 3.4%.
38.7% of Christiansburg households are renters.
26.5% median household income spent on rent.
Bedrooms |
Montgomery County 1 |
Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $854 | $833 | $737 |
| 1 bedroom | $922 | $897 | $813 |
| 2 bedroom | $1,051 | $1,072 | $1,015 |
| 3 bedroom | $1,504 | $1,423 | $1,325 |
| 4 bedroom | $1,820 | $1,680 | $1,521 |
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