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.
SoftQuotes' lender rates for 5+ unit multifamily loans in Washington are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.32% - 7.07% |
| 7 Year Fixed | 6.35% - 6.83% |
| 10 Year Fixed | 6.44% - 7.97% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.94% - 6.49% |
| 7 Year Fixed | 5.98% - 6.53% |
| 10 Year Fixed | 5.92% - 6.47% |
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 |