Benicia is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Benicia are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Benicia are slightly higher than the national average. Benicia 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 Benicia.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Benicia are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.53% - 6.77% |
| 7 Year Fixed | 6.24% - 6.48% |
| 10 Year Fixed | 6.33% - 6.57% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Benicia.
The city of Benicia in Solano County has a population of 28,240. The median rent in Solano County for a 2 bedroom is $1,767. The median Benicia resident is 46 years old with a yearly income of $52,891. The average family has 2.96 members and a median household income of $103,413. Benicia has a 45% higher education rate. The unemployment rate in Benicia is 2.7%.
28.2% of Benicia households are renters.
31.4% median household income spent on rent.
Bedrooms |
Solano County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $1,300 | $1,137 | $737 |
| 1 bedroom | $1,477 | $1,291 | $813 |
| 2 bedroom | $1,767 | $1,635 | $1,015 |
| 3 bedroom | $2,529 | $2,254 | $1,325 |
| 4 bedroom | $3,059 | $2,613 | $1,521 |
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