Junction City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Junction City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Junction City are higher than the national average. Junction City 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 Junction City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Junction City 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 | 5.23% - 5.47% |
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 Junction City.
The city of Junction City in Geary County has a population of 21,482. The median rent in Geary County for a 2 bedroom is $984. The median Junction City resident is 28 years old with a yearly income of $30,479. The average family has 3.03 members and a median household income of $53,932. Junction City has a 22% higher education rate. The unemployment rate in Junction City is 4.4%.
57.9% of Junction City households are renters.
24.4% median household income spent on rent.
Bedrooms |
Geary County 1 |
Kansas 2 |
National 2 |
|---|---|---|---|
| Studio | $742 | $581 | $737 |
| 1 bedroom | $747 | $612 | $813 |
| 2 bedroom | $984 | $781 | $1,015 |
| 3 bedroom | $1,408 | $1,027 | $1,325 |
| 4 bedroom | $1,704 | $1,166 | $1,521 |
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