South Kingstown is located in a good market for 5+ unit multifamily loans. Multifamily loans in South Kingstown are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in South Kingstown are competitive. South Kingstown 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 South Kingstown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Kingstown 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 | 6.99% - 7.23% |
| 7 Year Fixed | 6.68% - 6.92% |
| 10 Year Fixed | 6.64% - 6.88% |
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 South Kingstown.
The city of South Kingstown in Washington County has a population of 30,652. The median rent in Washington County for a 2 bedroom is $1,239. The median South Kingstown resident is 36 years old with a yearly income of $27,217. The average family has 2.9 members and a median household income of $89,917. South Kingstown has a 56% higher education rate. The unemployment rate in South Kingstown is 7.4%.
27.4% of South Kingstown households are renters.
31% median household income spent on rent.
Bedrooms |
Washington County 1 |
Rhode Island 2 |
National 2 |
|---|---|---|---|
| Studio | $915 | $936 | $737 |
| 1 bedroom | $1,030 | $1,044 | $813 |
| 2 bedroom | $1,239 | $1,270 | $1,015 |
| 3 bedroom | $1,541 | $1,615 | $1,325 |
| 4 bedroom | $1,850 | $1,932 | $1,521 |
We're here to help.