Madera is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Madera are considered greater risk due to market dynamics. Interest rates for multifamily loans in Madera are higher than the national average. Madera 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 Madera.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Madera 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 Madera.
The city of Madera in Madera County has a population of 65,860. The median rent in Madera County for a 2 bedroom is $1,224. The median Madera resident is 29 years old with a yearly income of $21,156. The average family has 3.95 members and a median household income of $45,163. Madera has a 10% higher education rate. The unemployment rate in Madera is 9.2%.
52.2% of Madera households are renters.
36.4% median household income spent on rent.
Bedrooms |
Madera County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $931 | $1,137 | $737 |
| 1 bedroom | $937 | $1,291 | $813 |
| 2 bedroom | $1,224 | $1,635 | $1,015 |
| 3 bedroom | $1,752 | $2,254 | $1,325 |
| 4 bedroom | $1,917 | $2,613 | $1,521 |
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