Rocky Mount is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Rocky Mount are considered greater risk due to market dynamics. Interest rates for multifamily loans in Rocky Mount are higher than the national average. Rocky Mount apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Rocky Mount.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rocky Mount 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 | 6.42% - 6.66% |
| 10 Year Fixed | 6.38% - 6.62% |
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 | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Rocky Mount.
The city of Rocky Mount in Nash County has a population of 53,922. The median rent in Nash County for a 2 bedroom is $844. The median Rocky Mount resident is 39 years old with a yearly income of $23,864. The average family has 2.99 members and a median household income of $40,633. Rocky Mount has a 20% higher education rate. The unemployment rate in Rocky Mount is 7.3%.
49.3% of Rocky Mount households are renters.
32.8% median household income spent on rent.
Bedrooms |
Nash County 1 |
North Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $654 | $694 | $737 |
| 1 bedroom | $658 | $713 | $813 |
| 2 bedroom | $844 | $871 | $1,015 |
| 3 bedroom | $1,149 | $1,152 | $1,325 |
| 4 bedroom | $1,238 | $1,386 | $1,521 |
We're here to help.