Spanaway is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Spanaway are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Spanaway are some of the lowest nationally. Spanaway 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 Spanaway.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Spanaway 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 Spanaway.
The city of Spanaway in Pierce County has a population of 32,575. The median rent in Pierce County for a 2 bedroom is $1,572. The median Spanaway resident is 34 years old with a yearly income of $35,929. The average family has 3.31 members and a median household income of $71,659. Spanaway has a 14% higher education rate. The unemployment rate in Spanaway is 7.6%.
31.7% of Spanaway households are renters.
26.8% 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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