Gillette is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Gillette are considered greater risk due to market dynamics. Interest rates for multifamily loans in Gillette are higher than the national average. Gillette 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 Gillette.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Gillette 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 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 Gillette.
The city of Gillette in Campbell County has a population of 32,030. The median rent in Campbell County for a 2 bedroom is $1,004. The median Gillette resident is 31 years old with a yearly income of $39,990. The average family has 3.21 members and a median household income of $79,789. Gillette has a 19% higher education rate. The unemployment rate in Gillette is 3.3%.
30.1% of Gillette households are renters.
26.3% median household income spent on rent.
Bedrooms |
Campbell County 1 |
Wyoming 2 |
National 2 |
|---|---|---|---|
| Studio | $816 | $682 | $737 |
| 1 bedroom | $821 | $718 | $813 |
| 2 bedroom | $1,004 | $896 | $1,015 |
| 3 bedroom | $1,437 | $1,212 | $1,325 |
| 4 bedroom | $1,639 | $1,504 | $1,521 |
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