Oakland is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Oakland are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Oakland are some of the lowest nationally. Oakland apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Oakland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Oakland are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.03% |
| 7 Year Fixed | 6.01% - 6.09% |
| 10 Year Fixed | 5.94% - 6.09% |
All major multifamily lender types are lending in Oakland.
The city of Oakland in Alameda County has a population of 433,031. The median rent in Alameda County for a 2 bedroom is $2,641. The median Oakland resident is 37 years old with a yearly income of $36,171. The average family has 3.36 members and a median household income of $73,692. Oakland has a 44% higher education rate. The unemployment rate in Oakland is 6.1%.
59.3% of Oakland households are renters.
33.4% median household income spent on rent.
Bedrooms |
Alameda County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,768 | $1,137 | $737 |
| 1 bedroom | $2,143 | $1,291 | $813 |
| 2 bedroom | $2,641 | $1,635 | $1,015 |
| 3 bedroom | $3,541 | $2,254 | $1,325 |
| 4 bedroom | $4,281 | $2,613 | $1,521 |
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