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Multifamily Loans in Washington

Overview

1,064,333 (or 13.98%) of the 7,614,893 population of Washington live in 5+ unit apartment properties. Washington has approximately 593,342 multifamily units. Last year, 18,262 new apartment units were constructed in Washington, representing a 3.18% growth in units. Multifamily units make up 13.99% of the total housing stock in Washington.

Interest rates for multifamily loans in Washington are very competitive. Washington 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 Washington.

Get multifamily loan quotes for Jul 16, 2024


Multifamily Loan Rates in Washington

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

Loan Amount
$1M to $6M
5 Year Fixed 5.87% - 6.52%
7 Year Fixed 5.75% - 6.13%
10 Year Fixed 5.74% - 6.17%
Loan Amount
$6M to $100M
5 Year Fixed 5.75% - 6.25%
7 Year Fixed 5.72% - 6.22%
10 Year Fixed 5.64% - 6.14%
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 07/15/2024.

Get multifamily loan quotes for Jul 16, 2024


Washington Rents

The state of Washington prohibits rent control.

Bedrooms
Low1
High2
Average2
Studio $484 $1,659 $801
1 bedroom $595 $1,741 $904
2 bedroom $734 $2,076 $1,138
3 bedroom $1,025 $2,903 $1,591
4 bedroom $1,240 $3,421 $1,874
1 County median 2 Average of counties
Source: Federal Housing Finance Agency