Hazleton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Hazleton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Hazleton are slightly higher than the national average. Hazleton 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 Hazleton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hazleton 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 Hazleton.
The city of Hazleton in Luzerne County has a population of 24,794. The median rent in Luzerne County for a 2 bedroom is $887. The median Hazleton resident is 36 years old with a yearly income of $24,935. The average family has 3.19 members and a median household income of $40,467. Hazleton has a 13% higher education rate. The unemployment rate in Hazleton is 8.2%.
50.7% of Hazleton households are renters.
31.1% median household income spent on rent.
Bedrooms |
Luzerne County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $624 | $680 | $737 |
| 1 bedroom | $724 | $747 | $813 |
| 2 bedroom | $887 | $929 | $1,015 |
| 3 bedroom | $1,144 | $1,198 | $1,325 |
| 4 bedroom | $1,222 | $1,330 | $1,521 |
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