Murfreesboro is located in a good market for 5+ unit multifamily loans. Multifamily loans in Murfreesboro are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Murfreesboro are competitive. Murfreesboro 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 Murfreesboro.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Murfreesboro 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 Murfreesboro.
The city of Murfreesboro in Rutherford County has a population of 146,900. The median rent in Rutherford County for a 2 bedroom is $1,293. The median Murfreesboro resident is 30 years old with a yearly income of $30,349. The average family has 3.17 members and a median household income of $62,003. Murfreesboro has a 40% higher education rate. The unemployment rate in Murfreesboro is 5.1%.
47.7% of Murfreesboro households are renters.
28.7% median household income spent on rent.
Bedrooms |
Rutherford County 1 |
Tennessee 2 |
National 2 |
|---|---|---|---|
| Studio | $1,078 | $618 | $737 |
| 1 bedroom | $1,114 | $657 | $813 |
| 2 bedroom | $1,293 | $813 | $1,015 |
| 3 bedroom | $1,663 | $1,073 | $1,325 |
| 4 bedroom | $2,085 | $1,248 | $1,521 |
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