Emporia is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Emporia are considered greater risk due to market dynamics. Interest rates for multifamily loans in Emporia are higher than the national average. Emporia 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 Emporia.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Emporia are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Emporia.
The city of Emporia in Lyon County has a population of 24,598. The median rent in Lyon County for a 2 bedroom is $738. The median Emporia resident is 29 years old with a yearly income of $23,262. The average family has 3.02 members and a median household income of $40,525. Emporia has a 28% higher education rate. The unemployment rate in Emporia is 6.6%.
49% of Emporia households are renters.
30.2% median household income spent on rent.
Bedrooms |
Lyon County 1 |
Kansas 2 |
National 2 |
|---|---|---|---|
| Studio | $487 | $581 | $737 |
| 1 bedroom | $560 | $612 | $813 |
| 2 bedroom | $738 | $781 | $1,015 |
| 3 bedroom | $1,016 | $1,027 | $1,325 |
| 4 bedroom | $1,194 | $1,166 | $1,521 |
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