Amarillo is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Amarillo are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Amarillo are slightly higher than the national average. Amarillo apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Amarillo.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Amarillo 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.29% - 5.53% |
| 10 Year Fixed | 5.18% - 5.42% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Amarillo.
The city of Amarillo in Potter County has a population of 199,371. The median rent in Potter County for a 2 bedroom is $965. The median Amarillo resident is 34 years old with a yearly income of $29,382. The average family has 3.24 members and a median household income of $52,725. Amarillo has a 24% higher education rate. The unemployment rate in Amarillo is 3.6%.
39.5% of Amarillo households are renters.
29.2% median household income spent on rent.
Bedrooms |
Potter County 1 |
Texas 2 |
National 2 |
|---|---|---|---|
| Studio | $670 | $669 | $737 |
| 1 bedroom | $751 | $738 | $813 |
| 2 bedroom | $965 | $912 | $1,015 |
| 3 bedroom | $1,317 | $1,210 | $1,325 |
| 4 bedroom | $1,498 | $1,407 | $1,521 |
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