Kingman is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Kingman are considered greater risk due to market dynamics. Interest rates for multifamily loans in Kingman are higher than the national average. Kingman 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 Kingman.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kingman 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 Kingman.
The city of Kingman in Mohave County has a population of 31,013. The median rent in Mohave County for a 2 bedroom is $962. The median Kingman resident is 42 years old with a yearly income of $25,780. The average family has 2.91 members and a median household income of $49,029. Kingman has a 19% higher education rate. The unemployment rate in Kingman is 6.4%.
33.3% of Kingman households are renters.
31.7% median household income spent on rent.
Bedrooms |
Mohave County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $686 | $747 | $737 |
| 1 bedroom | $770 | $822 | $813 |
| 2 bedroom | $962 | $1,038 | $1,015 |
| 3 bedroom | $1,377 | $1,433 | $1,325 |
| 4 bedroom | $1,517 | $1,597 | $1,521 |
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