Port Arthur is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Port Arthur are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Port Arthur are slightly higher than the national average. Port Arthur 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 Port Arthur.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port Arthur 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 | 6.33% - 6.57% |
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 Port Arthur.
The city of Port Arthur in Jefferson County has a population of 54,280. The median rent in Jefferson County for a 2 bedroom is $935. The median Port Arthur resident is 35 years old with a yearly income of $23,449. The average family has 3.5 members and a median household income of $36,557. Port Arthur has a 12% higher education rate. The unemployment rate in Port Arthur is 7.3%.
42.3% of Port Arthur households are renters.
37.7% median household income spent on rent.
Bedrooms |
Jefferson County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $702 | $669 | $737 |
| 1 bedroom | $752 | $738 | $813 |
| 2 bedroom | $935 | $912 | $1,015 |
| 3 bedroom | $1,217 | $1,210 | $1,325 |
| 4 bedroom | $1,280 | $1,407 | $1,521 |
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