4,115,327 (or 14.19%) of the 28,995,881 population of Texas live in 5+ unit apartment properties. Texas has approximately 2,244,819 multifamily units. Last year, 67,295 new apartment units were constructed in Texas, representing a 3.09% growth in units. Multifamily units make up 21.29% of the total housing stock in Texas.
Interest rates for multifamily loans in Texas are very competitive. Texas 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 Texas.
SoftQuotes' lender rates for 5+ unit multifamily loans in Texas are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.32% - 7.17% |
| 7 Year Fixed | 6.63% - 7.13% |
| 10 Year Fixed | 6.64% - 7.12% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.85% - 6.40% |
| 7 Year Fixed | 5.86% - 6.41% |
| 10 Year Fixed | 5.72% - 6.27% |
The state of Texas prohibits mandatory inclusionary zonings and rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $484 | $1,207 | $669 |
| 1 bedroom | $557 | $1,309 | $738 |
| 2 bedroom | $734 | $1,549 | $912 |
| 3 bedroom | $913 | $1,997 | $1,210 |
| 4 bedroom | $995 | $2,533 | $1,407 |