Kingston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Kingston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Kingston are higher than the national average. Kingston 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 Kingston.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Kingston 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 Kingston.
The city of Kingston in Ulster County has a population of 22,793. The median rent in Ulster County for a 2 bedroom is $1,374. The median Kingston resident is 37 years old with a yearly income of $27,388. The average family has 3.27 members and a median household income of $51,299. Kingston has a 27% higher education rate. The unemployment rate in Kingston is 6.8%.
54.6% of Kingston households are renters.
35.8% median household income spent on rent.
Bedrooms |
Ulster County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $912 | $909 | $737 |
| 1 bedroom | $1,081 | $990 | $813 |
| 2 bedroom | $1,374 | $1,202 | $1,015 |
| 3 bedroom | $1,786 | $1,537 | $1,325 |
| 4 bedroom | $2,020 | $1,692 | $1,521 |
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