Laramie is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Laramie are considered greater risk due to market dynamics. Interest rates for multifamily loans in Laramie are higher than the national average. Laramie 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 Laramie.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Laramie 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 Laramie.
The city of Laramie in Albany County has a population of 32,711. The median rent in Albany County for a 2 bedroom is $850. The median Laramie resident is 26 years old with a yearly income of $21,138. The average family has 2.96 members and a median household income of $46,117. Laramie has a 53% higher education rate. The unemployment rate in Laramie is 4.8%.
54.7% of Laramie households are renters.
32.6% median household income spent on rent.
Bedrooms |
Albany County 1 |
Wyoming 2 |
National 2 |
|---|---|---|---|
| Studio | $597 | $682 | $737 |
| 1 bedroom | $699 | $718 | $813 |
| 2 bedroom | $850 | $896 | $1,015 |
| 3 bedroom | $1,216 | $1,212 | $1,325 |
| 4 bedroom | $1,472 | $1,504 | $1,521 |
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