Forest Grove is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Forest Grove are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Forest Grove are some of the lowest nationally. Forest Grove apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Forest Grove.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Forest Grove 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.12% - 6.36% |
| 7 Year Fixed | 6.05% - 6.29% |
| 10 Year Fixed | 6.14% - 6.38% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Forest Grove.
The city of Forest Grove in Washington County has a population of 25,553. The median rent in Washington County for a 2 bedroom is $1,620. The median Forest Grove resident is 33 years old with a yearly income of $27,443. The average family has 3.38 members and a median household income of $64,172. Forest Grove has a 28% higher education rate. The unemployment rate in Forest Grove is 5.0%.
40.6% of Forest Grove households are renters.
33.3% median household income spent on rent.
Bedrooms |
Washington County 1 |
Oregon 2 |
National 2 |
|---|---|---|---|
| Studio | $1,313 | $786 | $737 |
| 1 bedroom | $1,404 | $891 | $813 |
| 2 bedroom | $1,620 | $1,112 | $1,015 |
| 3 bedroom | $2,312 | $1,569 | $1,325 |
| 4 bedroom | $2,802 | $1,853 | $1,521 |
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