Huntington is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Huntington are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Huntington are slightly higher than the national average. Huntington 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 Huntington.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Huntington 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 | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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 Huntington.
The city of Huntington in Cabell County has a population of 45,110. The median rent in Cabell County for a 2 bedroom is $839. The median Huntington resident is 35 years old with a yearly income of $18,393. The average family has 3.18 members and a median household income of $31,162. Huntington has a 27% higher education rate. The unemployment rate in Huntington is 6.8%.
49% of Huntington households are renters.
46.9% median household income spent on rent.
Bedrooms |
Cabell County 1 |
West Virginia 2 |
National 2 |
|---|---|---|---|
| Studio | $586 | $595 | $737 |
| 1 bedroom | $692 | $629 | $813 |
| 2 bedroom | $839 | $769 | $1,015 |
| 3 bedroom | $1,128 | $1,010 | $1,325 |
| 4 bedroom | $1,286 | $1,163 | $1,521 |
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