Carteret is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Carteret are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Carteret are some of the lowest nationally. Carteret 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 Carteret.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Carteret are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.42% - 5.66% |
| 7 Year Fixed | 5.48% - 5.72% |
| 10 Year Fixed | 5.34% - 5.58% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Carteret.
The city of Carteret in Middlesex County has a population of 23,408. The median rent in Middlesex County for a 2 bedroom is $1,888. The median Carteret resident is 37 years old with a yearly income of $30,707. The average family has 3.56 members and a median household income of $73,347. Carteret has a 24% higher education rate. The unemployment rate in Carteret is 5.7%.
42.3% of Carteret households are renters.
33% median household income spent on rent.
Bedrooms |
Middlesex County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,297 | $1,166 | $737 |
| 1 bedroom | $1,477 | $1,353 | $813 |
| 2 bedroom | $1,888 | $1,671 | $1,015 |
| 3 bedroom | $2,356 | $2,131 | $1,325 |
| 4 bedroom | $2,683 | $2,445 | $1,521 |
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