Nicholasville is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Nicholasville are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Nicholasville are slightly higher than the national average. Nicholasville 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 Nicholasville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Nicholasville 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 Nicholasville.
The city of Nicholasville in Jessamine County has a population of 30,865. The median rent in Jessamine County for a 2 bedroom is $978. The median Nicholasville resident is 36 years old with a yearly income of $25,570. The average family has 3.15 members and a median household income of $48,242. Nicholasville has a 20% higher education rate. The unemployment rate in Nicholasville is 7.4%.
44.1% of Nicholasville households are renters.
27.5% median household income spent on rent.
Bedrooms |
Jessamine County 1 |
Kentucky 2 |
National 2 |
|---|---|---|---|
| Studio | $677 | $548 | $737 |
| 1 bedroom | $783 | $605 | $813 |
| 2 bedroom | $978 | $763 | $1,015 |
| 3 bedroom | $1,349 | $1,011 | $1,325 |
| 4 bedroom | $1,645 | $1,144 | $1,521 |
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