Hattiesburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hattiesburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hattiesburg are higher than the national average. Hattiesburg 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 Hattiesburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hattiesburg 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 | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
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 | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Hattiesburg.
The city of Hattiesburg in Forrest County has a population of 45,863. The median rent in Forrest County for a 2 bedroom is $916. The median Hattiesburg resident is 29 years old with a yearly income of $17,760. The average family has 3.21 members and a median household income of $34,735. Hattiesburg has a 33% higher education rate. The unemployment rate in Hattiesburg is 10.5%.
63.7% of Hattiesburg households are renters.
37.4% median household income spent on rent.
Bedrooms |
Forrest County 1 |
Mississippi 2 |
National 2 |
|---|---|---|---|
| Studio | $604 | $573 | $737 |
| 1 bedroom | $767 | $612 | $813 |
| 2 bedroom | $916 | $754 | $1,015 |
| 3 bedroom | $1,186 | $975 | $1,325 |
| 4 bedroom | $1,337 | $1,111 | $1,521 |
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