Stockton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Stockton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Stockton are slightly higher than the national average. Stockton 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 Stockton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Stockton 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 Stockton.
The city of Stockton in San Joaquin County has a population of 312,697. The median rent in San Joaquin County for a 2 bedroom is $1,367. The median Stockton resident is 33 years old with a yearly income of $26,059. The average family has 3.77 members and a median household income of $54,614. Stockton has a 18% higher education rate. The unemployment rate in Stockton is 8.8%.
51.2% of Stockton households are renters.
35.8% median household income spent on rent.
Bedrooms |
San Joaquin County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $909 | $1,137 | $737 |
| 1 bedroom | $1,037 | $1,291 | $813 |
| 2 bedroom | $1,367 | $1,635 | $1,015 |
| 3 bedroom | $1,956 | $2,254 | $1,325 |
| 4 bedroom | $2,367 | $2,613 | $1,521 |
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