Layton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Layton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Layton are slightly higher than the national average. Layton 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 Layton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Layton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.98% - 6.13% |
| 7 Year Fixed | 6.04% - 6.19% |
| 10 Year Fixed | 6.04% - 6.19% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Layton.
The city of Layton in Davis County has a population of 78,014. The median rent in Davis County for a 2 bedroom is $1,085. The median Layton resident is 31 years old with a yearly income of $32,115. The average family has 3.58 members and a median household income of $77,426. Layton has a 34% higher education rate. The unemployment rate in Layton is 3.3%.
29.5% of Layton households are renters.
24.1% median household income spent on rent.
Bedrooms |
Davis County 1 |
Utah 2 |
National 2 |
|---|---|---|---|
| Studio | $766 | $659 | $737 |
| 1 bedroom | $863 | $743 | $813 |
| 2 bedroom | $1,085 | $922 | $1,015 |
| 3 bedroom | $1,522 | $1,250 | $1,325 |
| 4 bedroom | $1,814 | $1,497 | $1,521 |
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