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Multifamily Loans in
Phenix City, AL

Overview

Phenix City is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Phenix City are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Phenix City are slightly higher than the national average. Phenix City 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 Phenix City.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Phenix City, AL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Phenix City are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.08% - 3.33%
7 Year Fixed 3.24% - 3.69%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Phenix City may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Phenix City, AL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Phenix City.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Phenix City Market

The city of Phenix City in Russell County has a population of 36,487. The median rent in Russell County for a 2 bedroom is $900. The median Phenix City resident is 34 years old with a yearly income of $25,307. The average family has 3.1 members and a median household income of $42,089. Phenix City has a 22% higher education rate. The unemployment rate in Phenix City is 7.2%.


Population
36,487 people

County
Russell County

Renters

49% of Phenix City households are renters.


Rent Burden

33.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Russell County 1
Alabama 2
National 2
Studio $697 $580 $737
1 bedroom $775 $626 $813
2 bedroom $900 $767 $1,015
3 bedroom $1,209 $1,004 $1,325
4 bedroom $1,558 $1,157 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Phenix City Demographics


Median Individual Income
$25,307 / year

Median Household Income
$42,089 / year

Families w/ Dual Incomes
43%

Unemployment Rate
7.2%
Household Income Distribution
Phenix City, AL

Median Age
34 years

Avg Family Size
3.1 people
Age Distribution
Phenix City, AL

College Education or Above
22%

STEM College Graduates
35%
Education Distribution
Phenix City, AL
Source: U.S. Census Bureau

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