Yakima is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Yakima are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Yakima are slightly higher than the national average. Yakima 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 Yakima.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Yakima 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 Yakima.
The city of Yakima in Yakima County has a population of 93,637. The median rent in Yakima County for a 2 bedroom is $1,108. The median Yakima resident is 34 years old with a yearly income of $24,747. The average family has 3.34 members and a median household income of $44,950. Yakima has a 19% higher education rate. The unemployment rate in Yakima is 6.3%.
45.8% of Yakima households are renters.
30.9% median household income spent on rent.
Bedrooms |
Yakima County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $766 | $801 | $737 |
| 1 bedroom | $841 | $904 | $813 |
| 2 bedroom | $1,108 | $1,138 | $1,015 |
| 3 bedroom | $1,558 | $1,591 | $1,325 |
| 4 bedroom | $1,693 | $1,874 | $1,521 |
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