Sierra Vista is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Sierra Vista are considered greater risk due to market dynamics. Interest rates for multifamily loans in Sierra Vista are higher than the national average. Sierra Vista 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 Sierra Vista.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sierra Vista 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 Sierra Vista.
The city of Sierra Vista in Cochise County has a population of 43,045. The median rent in Cochise County for a 2 bedroom is $911. The median Sierra Vista resident is 36 years old with a yearly income of $31,946. The average family has 2.86 members and a median household income of $59,585. Sierra Vista has a 30% higher education rate. The unemployment rate in Sierra Vista is 6.0%.
42.7% of Sierra Vista households are renters.
26.3% median household income spent on rent.
Bedrooms |
Cochise County 1 |
Arizona 2 |
National 2 |
|---|---|---|---|
| Studio | $691 | $747 | $737 |
| 1 bedroom | $695 | $822 | $813 |
| 2 bedroom | $911 | $1,038 | $1,015 |
| 3 bedroom | $1,304 | $1,433 | $1,325 |
| 4 bedroom | $1,577 | $1,597 | $1,521 |
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