Redding is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Redding are considered greater risk due to market dynamics. Interest rates for multifamily loans in Redding are higher than the national average. Redding apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Redding.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Redding 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 | 5.63% - 5.87% |
| 7 Year Fixed | 5.24% - 5.48% |
| 10 Year Fixed | 5.28% - 5.52% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Redding.
The city of Redding in Shasta County has a population of 92,590. The median rent in Shasta County for a 2 bedroom is $1,293. The median Redding resident is 38 years old with a yearly income of $27,801. The average family has 2.96 members and a median household income of $54,278. Redding has a 26% higher education rate. The unemployment rate in Redding is 5.2%.
45.8% of Redding households are renters.
32.9% median household income spent on rent.
Bedrooms |
Shasta County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $853 | $1,137 | $737 |
| 1 bedroom | $981 | $1,291 | $813 |
| 2 bedroom | $1,293 | $1,635 | $1,015 |
| 3 bedroom | $1,850 | $2,254 | $1,325 |
| 4 bedroom | $2,239 | $2,613 | $1,521 |
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