Oildale is located in a good market for 5+ unit multifamily loans. Multifamily loans in Oildale are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Oildale are competitive. Oildale 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 Oildale.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Oildale 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 $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.63% - 6.87% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Oildale.
The city of Oildale in Kern County has a population of 34,763. The median rent in Kern County for a 2 bedroom is $1,039. The median Oildale resident is 32 years old with a yearly income of $20,882. The average family has 3.45 members and a median household income of $38,099. Oildale has a 9% higher education rate. The unemployment rate in Oildale is 15.0%.
66.2% of Oildale households are renters.
38.1% median household income spent on rent.
Bedrooms |
Kern County 1 |
California 2 |
National 2 |
|---|---|---|---|
| Studio | $786 | $1,137 | $737 |
| 1 bedroom | $796 | $1,291 | $813 |
| 2 bedroom | $1,039 | $1,635 | $1,015 |
| 3 bedroom | $1,487 | $2,254 | $1,325 |
| 4 bedroom | $1,799 | $2,613 | $1,521 |
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