Walla Walla is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Walla Walla are considered greater risk due to market dynamics. Interest rates for multifamily loans in Walla Walla are higher than the national average. Walla Walla 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 Walla Walla.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Walla Walla 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 Walla Walla.
The city of Walla Walla in Walla Walla County has a population of 32,900. The median rent in Walla Walla County for a 2 bedroom is $1,172. The median Walla Walla resident is 36 years old with a yearly income of $26,047. The average family has 2.95 members and a median household income of $50,550. Walla Walla has a 27% higher education rate. The unemployment rate in Walla Walla is 4.7%.
41.3% of Walla Walla households are renters.
36.1% median household income spent on rent.
Bedrooms |
Walla Walla County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $773 | $801 | $737 |
| 1 bedroom | $889 | $904 | $813 |
| 2 bedroom | $1,172 | $1,138 | $1,015 |
| 3 bedroom | $1,677 | $1,591 | $1,325 |
| 4 bedroom | $1,730 | $1,874 | $1,521 |
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