Olympia is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Olympia are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Olympia are slightly higher than the national average. Olympia apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Olympia.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Olympia 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 | 5.53% - 5.77% |
| 7 Year Fixed | 5.17% - 5.41% |
| 10 Year Fixed | 5.18% - 5.42% |
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 | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Olympia.
The city of Olympia in Thurston County has a population of 52,882. The median rent in Thurston County for a 2 bedroom is $1,324. The median Olympia resident is 38 years old with a yearly income of $32,875. The average family has 2.83 members and a median household income of $59,878. Olympia has a 44% higher education rate. The unemployment rate in Olympia is 5.3%.
53% of Olympia households are renters.
33.3% median household income spent on rent.
Bedrooms |
Thurston County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $1,089 | $801 | $737 |
| 1 bedroom | $1,095 | $904 | $813 |
| 2 bedroom | $1,324 | $1,138 | $1,015 |
| 3 bedroom | $1,895 | $1,591 | $1,325 |
| 4 bedroom | $2,292 | $1,874 | $1,521 |
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