Allentown is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Allentown are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Allentown are slightly higher than the national average. Allentown 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 Allentown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Allentown 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 Allentown.
The city of Allentown in Lehigh County has a population of 121,442. The median rent in Lehigh County for a 2 bedroom is $1,230. The median Allentown resident is 32 years old with a yearly income of $21,458. The average family has 3.35 members and a median household income of $41,167. Allentown has a 15% higher education rate. The unemployment rate in Allentown is 10.0%.
59.2% of Allentown households are renters.
37.7% median household income spent on rent.
Bedrooms |
Lehigh County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $851 | $680 | $737 |
| 1 bedroom | $962 | $747 | $813 |
| 2 bedroom | $1,230 | $929 | $1,015 |
| 3 bedroom | $1,591 | $1,198 | $1,325 |
| 4 bedroom | $1,668 | $1,330 | $1,521 |
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