Rio Rancho is located in a good market for 5+ unit multifamily loans. Multifamily loans in Rio Rancho are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Rio Rancho are competitive. Rio Rancho 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 Rio Rancho.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rio Rancho are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Rio Rancho.
The city of Rio Rancho in Sandoval County has a population of 99,178. The median rent in Sandoval County for a 2 bedroom is $1,013. The median Rio Rancho resident is 38 years old with a yearly income of $31,230. The average family has 3.24 members and a median household income of $66,856. Rio Rancho has a 30% higher education rate. The unemployment rate in Rio Rancho is 6.7%.
22.5% of Rio Rancho households are renters.
32.1% median household income spent on rent.
Bedrooms |
Sandoval County 1 |
New Mexico 2 |
National 2 |
|---|---|---|---|
| Studio | $669 | $682 | $737 |
| 1 bedroom | $830 | $728 | $813 |
| 2 bedroom | $1,013 | $898 | $1,015 |
| 3 bedroom | $1,450 | $1,212 | $1,325 |
| 4 bedroom | $1,742 | $1,440 | $1,521 |
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