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Multifamily Loans in Virginia

Overview

1,045,444 (or 12.25%) of the 8,535,519 population of Virginia live in 5+ unit apartment properties. Virginia has approximately 572,074 multifamily units. Last year, 8,809 new apartment units were constructed in Virginia, representing a 1.56% growth in units. Multifamily units make up 17.25% of the total housing stock in Virginia.

Interest rates for multifamily loans in Virginia are very competitive. Virginia apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Virginia.

Get multifamily loan quotes for Nov 28, 2022


Multifamily Loan Rates in Virginia

SoftQuotes' lender rates for 5+ unit multifamily loans in Virginia are:

Loan Amount
$1M to $6M
5 Year Fixed 6.42% - 7.12%
7 Year Fixed 6.63% - 7.06%
10 Year Fixed 6.54% - 6.92%
Loan Amount
$6M to $100M
5 Year Fixed 5.27% - 5.97%
7 Year Fixed 5.28% - 6.18%
10 Year Fixed 5.16% - 6.01%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 11/27/2022.

Get multifamily loan quotes for Nov 28, 2022


Virginia Rents

The state of Virginia is a Dillon Rule state with no rent control nor preemptions.

Bedrooms
Low1
High2
Average2
Studio $472 $1,643 $833
1 bedroom $532 $1,682 $897
2 bedroom $701 $1,917 $1,072
3 bedroom $872 $2,457 $1,423
4 bedroom $951 $2,978 $1,680
1 County median 2 Average of counties
Source: Federal Housing Finance Agency