Ruston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Ruston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Ruston are higher than the national average. Ruston 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 Ruston.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ruston 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 $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.92% - 7.16% |
| 10 Year Fixed | 6.83% - 7.07% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Ruston.
The city of Ruston in Lincoln Parish has a population of 21,854. The median rent in Lincoln Parish for a 2 bedroom is $836. The median Ruston resident is 24 years old with a yearly income of $15,004. The average family has 3.17 members and a median household income of $29,128. Ruston has a 42% higher education rate. The unemployment rate in Ruston is 4.5%.
65.3% of Ruston households are renters.
41.5% median household income spent on rent.
Bedrooms |
Lincoln Parish 1 |
Louisiana 2 |
National 2 |
|---|---|---|---|
| Studio | $552 | $665 | $737 |
| 1 bedroom | $719 | $729 | $813 |
| 2 bedroom | $836 | $888 | $1,015 |
| 3 bedroom | $1,176 | $1,160 | $1,325 |
| 4 bedroom | $1,447 | $1,326 | $1,521 |
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