86,702 (or 4.84%) of the 1,792,147 population of West Virginia live in 5+ unit apartment properties. West Virginia has approximately 55,112 multifamily units. Last year, 348 new apartment units were constructed in West Virginia, representing a 0.64% growth in units. Multifamily units make up 14.97% of the total housing stock in West Virginia.
Interest rates for multifamily loans in West Virginia are very competitive. West Virginia apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in West Virginia.
SoftQuotes' lender rates for 5+ unit multifamily loans in West Virginia are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.18% |
| 7 Year Fixed | 6.01% - 6.24% |
| 10 Year Fixed | 5.94% - 6.24% |
The state of West Virginia is a Dillon Rule state with no rent control nor preemptions.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $467 | $873 | $595 |
| 1 bedroom | $517 | $879 | $629 |
| 2 bedroom | $676 | $1,142 | $769 |
| 3 bedroom | $841 | $1,502 | $1,010 |
| 4 bedroom | $917 | $1,946 | $1,163 |