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Multifamily Loans in
Emporia, KS

Overview

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.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Emporia, KS

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Emporia are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.26% - 3.51%
7 Year Fixed 3.43% - 3.88%
10 Year Fixed 3.38% - 3.78%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Emporia may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Emporia, KS

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Emporia.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Emporia Market

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%.


Population
24,598 people

County
Lyon County

Renters

49% of Emporia households are renters.


Rent Burden

30.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Emporia Demographics


Median Individual Income
$23,262 / year

Median Household Income
$40,525 / year

Families w/ Dual Incomes
55%

Unemployment Rate
6.6%
Household Income Distribution
Emporia, KS

Median Age
29 years

Avg Family Size
3.02 people
Age Distribution
Emporia, KS

College Education or Above
28%

STEM College Graduates
44%
Education Distribution
Emporia, KS
Source: U.S. Census Bureau

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