Jamestown is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Jamestown are considered greater risk due to market dynamics. Interest rates for multifamily loans in Jamestown are higher than the national average. Jamestown apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Jamestown.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jamestown 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.33% - 5.57% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Jamestown.
The city of Jamestown in Chautauqua County has a population of 29,058. The median rent in Chautauqua County for a 2 bedroom is $795. The median Jamestown resident is 38 years old with a yearly income of $21,196. The average family has 3.06 members and a median household income of $33,420. Jamestown has a 17% higher education rate. The unemployment rate in Jamestown is 7.5%.
50.3% of Jamestown households are renters.
37.7% median household income spent on rent.
Bedrooms |
Chautauqua County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $593 | $909 | $737 |
| 1 bedroom | $650 | $990 | $813 |
| 2 bedroom | $795 | $1,202 | $1,015 |
| 3 bedroom | $1,038 | $1,537 | $1,325 |
| 4 bedroom | $1,133 | $1,692 | $1,521 |
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