Kingsville is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Kingsville are considered greater risk due to market dynamics. Interest rates for multifamily loans in Kingsville are higher than the national average. Kingsville 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 Kingsville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kingsville 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 | 6.68% - 6.92% |
| 7 Year Fixed | 6.44% - 6.68% |
| 10 Year Fixed | 6.43% - 6.67% |
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 Kingsville.
The city of Kingsville in Kleberg County has a population of 25,315. The median rent in Kleberg County for a 2 bedroom is $939. The median Kingsville resident is 27 years old with a yearly income of $22,167. The average family has 3.19 members and a median household income of $42,452. Kingsville has a 25% higher education rate. The unemployment rate in Kingsville is 8.0%.
52.9% of Kingsville households are renters.
41.7% median household income spent on rent.
Bedrooms |
Kleberg County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $689 | $669 | $737 |
| 1 bedroom | $712 | $738 | $813 |
| 2 bedroom | $939 | $912 | $1,015 |
| 3 bedroom | $1,295 | $1,210 | $1,325 |
| 4 bedroom | $1,617 | $1,407 | $1,521 |
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