West Allis is located in a good market for 5+ unit multifamily loans. Multifamily loans in West Allis are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in West Allis are competitive. West Allis apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in West Allis.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Allis 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 $7.5M |
|---|---|
| 5 Year Fixed | 7.04% - 7.28% |
| 7 Year Fixed | 6.70% - 6.94% |
| 10 Year Fixed | 6.69% - 6.93% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 6.10% - 6.20% |
| 7 Year Fixed | 6.11% - 6.21% |
| 10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in West Allis.
The city of West Allis in Milwaukee County has a population of 59,890. The median rent in Milwaukee County for a 2 bedroom is $1,033. The median West Allis resident is 38 years old with a yearly income of $32,566. The average family has 3 members and a median household income of $52,325. West Allis has a 25% higher education rate. The unemployment rate in West Allis is 3.7%.
48% of West Allis households are renters.
27.1% median household income spent on rent.
Bedrooms |
Milwaukee County 1 |
Wisconsin 2 |
National 2 |
|---|---|---|---|
| Studio | $704 | $595 | $737 |
| 1 bedroom | $853 | $668 | $813 |
| 2 bedroom | $1,033 | $856 | $1,015 |
| 3 bedroom | $1,319 | $1,127 | $1,325 |
| 4 bedroom | $1,446 | $1,256 | $1,521 |
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