College Station is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in College Station are considered moderate risk due to market dynamics. Interest rates for multifamily loans in College Station are slightly higher than the national average. College Station apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in College Station.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in College Station are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.84% - 7.08% |
| 10 Year Fixed | 6.78% - 7.02% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in College Station.
The city of College Station in Brazos County has a population of 117,911. The median rent in Brazos County for a 2 bedroom is $959. The median College Station resident is 23 years old with a yearly income of $20,395. The average family has 3.05 members and a median household income of $45,820. College Station has a 59% higher education rate. The unemployment rate in College Station is 4.0%.
62.3% of College Station households are renters.
41.1% median household income spent on rent.
Bedrooms |
Brazos County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $724 | $669 | $737 |
| 1 bedroom | $817 | $738 | $813 |
| 2 bedroom | $959 | $912 | $1,015 |
| 3 bedroom | $1,372 | $1,210 | $1,325 |
| 4 bedroom | $1,660 | $1,407 | $1,521 |
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