Jersey City is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Jersey City are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Jersey City are some of the lowest nationally. Jersey City 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 Jersey City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jersey City 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 Jersey City.
The city of Jersey City in Hudson County has a population of 262,075. The median rent in Hudson County for a 2 bedroom is $2,119. The median Jersey City resident is 34 years old with a yearly income of $37,776. The average family has 3.13 members and a median household income of $70,752. Jersey City has a 48% higher education rate. The unemployment rate in Jersey City is 5.7%.
70.9% of Jersey City households are renters.
28.8% median household income spent on rent.
Bedrooms |
Hudson County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,677 | $1,166 | $737 |
| 1 bedroom | $1,825 | $1,353 | $813 |
| 2 bedroom | $2,119 | $1,671 | $1,015 |
| 3 bedroom | $2,636 | $2,131 | $1,325 |
| 4 bedroom | $2,873 | $2,445 | $1,521 |
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