817,628 (or 11.23%) of the 7,278,717 population of Arizona live in 5+ unit apartment properties. Arizona has approximately 435,709 multifamily units. Last year, 16,714 new apartment units were constructed in Arizona, representing a 3.99% growth in units. Multifamily units make up 18.91% of the total housing stock in Arizona.
Interest rates for multifamily loans in Arizona are very competitive. Arizona 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 Arizona.
SoftQuotes' lender rates for 5+ unit multifamily loans in Arizona are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.77% - 7.52% |
| 7 Year Fixed | 6.55% - 7.03% |
| 10 Year Fixed | 6.59% - 7.12% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.50% |
| 7 Year Fixed | 5.96% - 6.51% |
| 10 Year Fixed | 5.89% - 6.44% |
The state of Arizona prohibits mandatory inclusionary zonings and rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $562 | $1,115 | $747 |
| 1 bedroom | $624 | $1,154 | $822 |
| 2 bedroom | $822 | $1,429 | $1,038 |
| 3 bedroom | $1,101 | $1,899 | $1,433 |
| 4 bedroom | $1,115 | $2,236 | $1,597 |