Petaluma is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Petaluma are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Petaluma are slightly higher than the national average. Petaluma 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 Petaluma.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Petaluma 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 Petaluma.
The city of Petaluma in Sonoma County has a population of 60,520. The median rent in Sonoma County for a 2 bedroom is $2,179. The median Petaluma resident is 42 years old with a yearly income of $41,011. The average family has 3.2 members and a median household income of $91,528. Petaluma has a 40% higher education rate. The unemployment rate in Petaluma is 4.0%.
34.1% of Petaluma households are renters.
33.6% median household income spent on rent.
Bedrooms |
Sonoma County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,462 | $1,137 | $737 |
| 1 bedroom | $1,658 | $1,291 | $813 |
| 2 bedroom | $2,179 | $1,635 | $1,015 |
| 3 bedroom | $3,084 | $2,254 | $1,325 |
| 4 bedroom | $3,553 | $2,613 | $1,521 |
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