Lower Paxton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Lower Paxton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Lower Paxton are slightly higher than the national average. Lower Paxton 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 Lower Paxton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lower Paxton 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 Lower Paxton.
The city of Lower Paxton in Dauphin County has a population of 49,065. The median rent in Dauphin County for a 2 bedroom is $1,042. The median Lower Paxton resident is 41 years old with a yearly income of $39,341. The average family has 2.95 members and a median household income of $70,814. Lower Paxton has a 37% higher education rate. The unemployment rate in Lower Paxton is 4.2%.
33% of Lower Paxton households are renters.
27.9% median household income spent on rent.
Bedrooms |
Dauphin County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $694 | $680 | $737 |
| 1 bedroom | $824 | $747 | $813 |
| 2 bedroom | $1,042 | $929 | $1,015 |
| 3 bedroom | $1,324 | $1,198 | $1,325 |
| 4 bedroom | $1,413 | $1,330 | $1,521 |
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