Parkland is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Parkland are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Parkland are some of the lowest nationally. Parkland 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 Parkland.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Parkland 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 | 5.71% - 5.46% |
| 7 Year Fixed | 5.10% - 5.34% |
| 10 Year Fixed | 5.09% - 5.33% |
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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Parkland.
The city of Parkland in Pierce County has a population of 37,303. The median rent in Pierce County for a 2 bedroom is $1,572. The median Parkland resident is 33 years old with a yearly income of $28,998. The average family has 3.18 members and a median household income of $55,346. Parkland has a 17% higher education rate. The unemployment rate in Parkland is 8.4%.
50.7% of Parkland households are renters.
32.1% median household income spent on rent.
Bedrooms |
Pierce County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $1,088 | $801 | $737 |
| 1 bedroom | $1,212 | $904 | $813 |
| 2 bedroom | $1,572 | $1,138 | $1,015 |
| 3 bedroom | $2,250 | $1,591 | $1,325 |
| 4 bedroom | $2,722 | $1,874 | $1,521 |
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