Flagstaff is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Flagstaff are considered greater risk due to market dynamics. Interest rates for multifamily loans in Flagstaff are higher than the national average. Flagstaff 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 Flagstaff.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Flagstaff 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 | 7.28% - 7.52% |
| 7 Year Fixed | 6.79% - 7.03% |
| 10 Year Fixed | 6.88% - 7.12% |
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 Flagstaff.
The city of Flagstaff in Coconino County has a population of 75,038. The median rent in Coconino County for a 2 bedroom is $1,429. The median Flagstaff resident is 25 years old with a yearly income of $21,503. The average family has 3.12 members and a median household income of $58,748. Flagstaff has a 47% higher education rate. The unemployment rate in Flagstaff is 7.6%.
52.6% of Flagstaff households are renters.
38.3% median household income spent on rent.
Bedrooms |
Coconino County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $1,115 | $747 | $737 |
| 1 bedroom | $1,154 | $822 | $813 |
| 2 bedroom | $1,429 | $1,038 | $1,015 |
| 3 bedroom | $1,860 | $1,433 | $1,325 |
| 4 bedroom | $2,236 | $1,597 | $1,521 |
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