Terrytown is located in a good market for 5+ unit multifamily loans. Multifamily loans in Terrytown are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Terrytown are competitive. Terrytown 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 Terrytown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Terrytown 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Terrytown.
The city of Terrytown in Jefferson Parish has a population of 24,953. The median rent in Jefferson Parish for a 2 bedroom is $1,127. The median Terrytown resident is 33 years old with a yearly income of $25,249. The average family has 3.6 members and a median household income of $46,638. Terrytown has a 19% higher education rate. The unemployment rate in Terrytown is 7.2%.
52.2% of Terrytown households are renters.
34.2% median household income spent on rent.
Bedrooms |
Jefferson Parish 1 |
Louisiana 2 |
National 2 |
|---|---|---|---|
| Studio | $813 | $665 | $737 |
| 1 bedroom | $955 | $729 | $813 |
| 2 bedroom | $1,127 | $888 | $1,015 |
| 3 bedroom | $1,457 | $1,160 | $1,325 |
| 4 bedroom | $1,681 | $1,326 | $1,521 |
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