Eureka is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Eureka are considered greater risk due to market dynamics. Interest rates for multifamily loans in Eureka are higher than the national average. Eureka apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Eureka.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Eureka 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 | 5.63% - 5.87% |
| 7 Year Fixed | 5.24% - 5.48% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Eureka.
The city of Eureka in Humboldt County has a population of 26,710. The median rent in Humboldt County for a 2 bedroom is $1,190. The median Eureka resident is 38 years old with a yearly income of $25,561. The average family has 2.9 members and a median household income of $42,890. Eureka has a 28% higher education rate. The unemployment rate in Eureka is 7.4%.
56.5% of Eureka households are renters.
35.9% median household income spent on rent.
Bedrooms |
Humboldt County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $793 | $1,137 | $737 |
| 1 bedroom | $923 | $1,291 | $813 |
| 2 bedroom | $1,190 | $1,635 | $1,015 |
| 3 bedroom | $1,703 | $2,254 | $1,325 |
| 4 bedroom | $2,033 | $2,613 | $1,521 |
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