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Multifamily Loans in Tennessee

Overview

Of the 6,829,174 Tennessee residents, 597,860 (or 8.75%) live in 5+ unit apartment properties. Tennessee has approximately 377,392 multifamily units. Last year, 15,612 new apartment units were constructed in Tennessee, representing a 4.32% growth in units. Multifamily units make up 13.56% of the total housing stock in Tennessee.

Interest rates for multifamily loans in Tennessee are very competitive. Tennessee apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Tennessee.

Get multifamily loan quotes for Sep 28, 2021


Multifamily Loan Rates in Tennessee

SoftQuotes' lender rates for 5+ unit multifamily loans in Tennessee are:

Loan Amount
$1M to $6M
5 Year Fixed 3.04% - 3.92%
7 Year Fixed 3.28% - 3.86%
10 Year Fixed 3.53% - 4.02%
Loan Amount
$6M to $100M
5 Year Fixed 2.54% - 2.94%
7 Year Fixed 2.83% - 3.43%
10 Year Fixed 2.95% - 3.50%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 09/27/2021.

Get multifamily loan quotes for Sep 28, 2021


Tennessee Rents

The state of Tennessee prohibits mandatory inclusionary zonings and rent control.

Bedrooms
Low1
High2
Average2
Studio $455 $1,078 $618
1 bedroom $503 $1,114 $657
2 bedroom $663 $1,293 $813
3 bedroom $825 $1,663 $1,073
4 bedroom $899 $2,085 $1,248
1 County median 2 Average of counties