Prunedale is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Prunedale are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Prunedale are slightly higher than the national average. Prunedale 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 Prunedale.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Prunedale 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 Prunedale.
The city of Prunedale in Monterey County has a population of 20,327. The median rent in Monterey County for a 2 bedroom is $1,951. The median Prunedale resident is 41 years old with a yearly income of $31,950. The average family has 3.79 members and a median household income of $89,137. Prunedale has a 23% higher education rate. The unemployment rate in Prunedale is 5.1%.
21.5% of Prunedale households are renters.
28.8% median household income spent on rent.
Bedrooms |
Monterey County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,467 | $1,137 | $737 |
| 1 bedroom | $1,595 | $1,291 | $813 |
| 2 bedroom | $1,951 | $1,635 | $1,015 |
| 3 bedroom | $2,792 | $2,254 | $1,325 |
| 4 bedroom | $3,061 | $2,613 | $1,521 |
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