Lansing is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lansing are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lansing are slightly higher than the national average. Lansing 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 Lansing.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lansing 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 | 6.58% - 6.82% |
| 7 Year Fixed | 6.34% - 6.58% |
| 10 Year Fixed | 6.28% - 6.52% |
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 | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lansing.
The city of Lansing in Ingham County has a population of 118,210. The median rent in Ingham County for a 2 bedroom is $962. The median Lansing resident is 33 years old with a yearly income of $24,883. The average family has 3.23 members and a median household income of $41,674. Lansing has a 26% higher education rate. The unemployment rate in Lansing is 8.4%.
49.4% of Lansing households are renters.
32.3% median household income spent on rent.
Bedrooms |
Ingham County 1 |
Michigan 2 |
National 2 |
|---|---|---|---|
| Studio | $751 | $607 | $737 |
| 1 bedroom | $783 | $678 | $813 |
| 2 bedroom | $962 | $855 | $1,015 |
| 3 bedroom | $1,239 | $1,118 | $1,325 |
| 4 bedroom | $1,338 | $1,238 | $1,521 |
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