Port Angeles is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Port Angeles are considered greater risk due to market dynamics. Interest rates for multifamily loans in Port Angeles are higher than the national average. Port Angeles 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 Port Angeles.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port Angeles 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 $6M |
|---|---|
| 5 Year Fixed | 7.28% - 7.52% |
| 7 Year Fixed | 6.79% - 7.03% |
| 10 Year Fixed | 6.88% - 7.12% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Port Angeles.
The city of Port Angeles in Clallam County has a population of 20,229. The median rent in Clallam County for a 2 bedroom is $1,084. The median Port Angeles resident is 39 years old with a yearly income of $27,299. The average family has 2.79 members and a median household income of $47,256. Port Angeles has a 26% higher education rate. The unemployment rate in Port Angeles is 7.4%.
46.9% of Port Angeles households are renters.
34.4% median household income spent on rent.
Bedrooms |
Clallam County 1 |
Washington 2 |
National 2 |
|---|---|---|---|
| Studio | $715 | $801 | $737 |
| 1 bedroom | $823 | $904 | $813 |
| 2 bedroom | $1,084 | $1,138 | $1,015 |
| 3 bedroom | $1,536 | $1,591 | $1,325 |
| 4 bedroom | $1,671 | $1,874 | $1,521 |
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