Jefferson City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Jefferson City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Jefferson City are higher than the national average. Jefferson City 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 Jefferson City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jefferson City 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 | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 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 Jefferson City.
The city of Jefferson City in Cole County has a population of 42,708. The median rent in Cole County for a 2 bedroom is $723. The median Jefferson City resident is 38 years old with a yearly income of $30,776. The average family has 2.98 members and a median household income of $52,253. Jefferson City has a 33% higher education rate. The unemployment rate in Jefferson City is 3.4%.
43.4% of Jefferson City households are renters.
23.3% median household income spent on rent.
Bedrooms |
Cole County 1 |
Missouri 2 |
National 2 |
|---|---|---|---|
| Studio | $477 | $535 | $737 |
| 1 bedroom | $582 | $594 | $813 |
| 2 bedroom | $723 | $761 | $1,015 |
| 3 bedroom | $1,028 | $1,010 | $1,325 |
| 4 bedroom | $1,032 | $1,155 | $1,521 |
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