Lexington is located in a good market for 5+ unit multifamily loans. Multifamily loans in Lexington are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Lexington are competitive. Lexington apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Lexington.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lexington 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Lexington.
The city of Lexington in Lexington County has a population of 22,157. The median rent in Lexington County for a 2 bedroom is $1,041. The median Lexington resident is 36 years old with a yearly income of $40,180. The average family has 3.07 members and a median household income of $72,996. Lexington has a 44% higher education rate. The unemployment rate in Lexington is 3.7%.
33.5% of Lexington households are renters.
28.3% median household income spent on rent.
Bedrooms |
Lexington County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $846 | $697 | $737 |
| 1 bedroom | $913 | $732 | $813 |
| 2 bedroom | $1,041 | $879 | $1,015 |
| 3 bedroom | $1,336 | $1,158 | $1,325 |
| 4 bedroom | $1,651 | $1,369 | $1,521 |
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