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Multifamily Loans in
Parkersburg, WV

Overview

Parkersburg is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Parkersburg are considered greater risk due to market dynamics. Interest rates for multifamily loans in Parkersburg are higher than the national average. Parkersburg 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 Parkersburg.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Parkersburg, WV

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Parkersburg are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Parkersburg may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Parkersburg, WV

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Parkersburg.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Parkersburg Market

The city of Parkersburg in Wood County has a population of 29,306. The median rent in Wood County for a 2 bedroom is $792. The median Parkersburg resident is 42 years old with a yearly income of $21,417. The average family has 2.94 members and a median household income of $35,778. Parkersburg has a 16% higher education rate. The unemployment rate in Parkersburg is 7.3%.


Population
29,306 people

County
Wood County

Renters

39.7% of Parkersburg households are renters.


Rent Burden

36.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Wood County 1
West Virginia 2
National 2
Studio $643 $595 $737
1 bedroom $661 $629 $813
2 bedroom $792 $769 $1,015
3 bedroom $1,066 $1,010 $1,325
4 bedroom $1,206 $1,163 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Parkersburg Demographics


Median Individual Income
$21,417 / year

Median Household Income
$35,778 / year

Families w/ Dual Incomes
38%

Unemployment Rate
7.3%
Household Income Distribution
Parkersburg, WV

Median Age
42 years

Avg Family Size
2.94 people
Age Distribution
Parkersburg, WV

College Education or Above
16%

STEM College Graduates
35%
Education Distribution
Parkersburg, WV
Source: U.S. Census Bureau

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