Vestavia Hills is located in a good market for 5+ unit multifamily loans. Multifamily loans in Vestavia Hills are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Vestavia Hills are competitive. Vestavia Hills 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 Vestavia Hills.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Vestavia Hills 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 | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
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 Vestavia Hills.
The city of Vestavia Hills in Jefferson County has a population of 34,413. The median rent in Jefferson County for a 2 bedroom is $1,093. The median Vestavia Hills resident is 39 years old with a yearly income of $52,697. The average family has 3.09 members and a median household income of $109,485. Vestavia Hills has a 69% higher education rate. The unemployment rate in Vestavia Hills is 2.0%.
21.7% of Vestavia Hills households are renters.
29.3% median household income spent on rent.
Bedrooms |
Jefferson County 1 |
Alabama 2 |
National 2 |
|---|---|---|---|
| Studio | $891 | $580 | $737 |
| 1 bedroom | $950 | $626 | $813 |
| 2 bedroom | $1,093 | $767 | $1,015 |
| 3 bedroom | $1,421 | $1,004 | $1,325 |
| 4 bedroom | $1,537 | $1,157 | $1,521 |
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