Agawam is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Agawam are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Agawam are slightly higher than the national average. Agawam apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Agawam.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Agawam are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.63% - 5.87% |
| 7 Year Fixed | 5.34% - 5.58% |
| 10 Year Fixed | 5.28% - 5.52% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Agawam.
The city of Agawam in Hampden County has a population of 28,613. The median rent in Hampden County for a 2 bedroom is $1,209. The median Agawam resident is 46 years old with a yearly income of $36,679. The average family has 3.03 members and a median household income of $68,944. Agawam has a 33% higher education rate. The unemployment rate in Agawam is 3.5%.
24.2% of Agawam households are renters.
35.6% median household income spent on rent.
Bedrooms |
Hampden County 1 |
Massachusetts 2 |
National 2 |
|---|---|---|---|
| Studio | $798 | $1,259 | $737 |
| 1 bedroom | $954 | $1,399 | $813 |
| 2 bedroom | $1,209 | $1,747 | $1,015 |
| 3 bedroom | $1,504 | $2,190 | $1,325 |
| 4 bedroom | $1,764 | $2,423 | $1,521 |
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