Lewiston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Lewiston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Lewiston are higher than the national average. Lewiston 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 Lewiston.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lewiston 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 $6M |
|---|---|
| 5 Year Fixed | 6.63% - 6.87% |
| 7 Year Fixed | 6.29% - 6.53% |
| 10 Year Fixed | 6.43% - 6.67% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Lewiston.
The city of Lewiston in Nez Perce County has a population of 32,788. The median rent in Nez Perce County for a 2 bedroom is $927. The median Lewiston resident is 40 years old with a yearly income of $28,695. The average family has 2.87 members and a median household income of $56,479. Lewiston has a 23% higher education rate. The unemployment rate in Lewiston is 3.3%.
28.4% of Lewiston households are renters.
28.7% median household income spent on rent.
Bedrooms |
Nez Perce County 1 |
Idaho 2 |
National 2 |
|---|---|---|---|
| Studio | $612 | $622 | $737 |
| 1 bedroom | $703 | $673 | $813 |
| 2 bedroom | $927 | $863 | $1,015 |
| 3 bedroom | $1,282 | $1,204 | $1,325 |
| 4 bedroom | $1,537 | $1,409 | $1,521 |
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