533,334 (or 7.92%) of the 6,732,219 population of Indiana live in 5+ unit apartment properties. Indiana has approximately 349,080 multifamily units. Last year, 5,129 new apartment units were constructed in Indiana, representing a 1.49% growth in units. Multifamily units make up 12.84% of the total housing stock in Indiana.
Interest rates for multifamily loans in Indiana are very competitive. Indiana apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Indiana.
SoftQuotes' lender rates for 5+ unit multifamily loans in Indiana are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.18% |
| 7 Year Fixed | 6.01% - 6.24% |
| 10 Year Fixed | 5.94% - 6.24% |
The state of Indiana prohibits mandatory inclusionary zonings and rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $483 | $817 | $593 |
| 1 bedroom | $555 | $831 | $666 |
| 2 bedroom | $732 | $1,007 | $840 |
| 3 bedroom | $910 | $1,349 | $1,099 |
| 4 bedroom | $993 | $1,698 | $1,251 |