St. George is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in St. George are considered greater risk due to market dynamics. Interest rates for multifamily loans in St. George are higher than the national average. St. George 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 St. George.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. George are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.18% |
| 7 Year Fixed | 6.09% - 6.24% |
| 10 Year Fixed | 6.09% - 6.24% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in St. George.
The city of St. George in Washington County has a population of 89,587. The median rent in Washington County for a 2 bedroom is $1,020. The median St. George resident is 37 years old with a yearly income of $26,529. The average family has 3.22 members and a median household income of $58,259. St. George has a 29% higher education rate. The unemployment rate in St. George is 3.7%.
34.4% of St. George households are renters.
30.6% median household income spent on rent.
Bedrooms |
Washington County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $790 | $659 | $737 |
| 1 bedroom | $822 | $743 | $813 |
| 2 bedroom | $1,020 | $922 | $1,015 |
| 3 bedroom | $1,460 | $1,250 | $1,325 |
| 4 bedroom | $1,766 | $1,497 | $1,521 |
We're here to help.