893,352 (or 12.96%) of the 6,892,503 population of Massachusetts live in 5+ unit apartment properties. Massachusetts has approximately 519,095 multifamily units. Last year, 9,339 new apartment units were constructed in Massachusetts, representing a 1.83% growth in units. Multifamily units make up 18.99% of the total housing stock in Massachusetts.
Interest rates for multifamily loans in Massachusetts are very competitive. Massachusetts apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Massachusetts.
SoftQuotes' lender rates for 5+ unit multifamily loans in Massachusetts are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.18% |
| 7 Year Fixed | 6.01% - 6.24% |
| 10 Year Fixed | 5.94% - 6.24% |
The state of Massachusetts prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $774 | $1,842 | $1,259 |
| 1 bedroom | $779 | $2,034 | $1,399 |
| 2 bedroom | $1,027 | $2,470 | $1,747 |
| 3 bedroom | $1,346 | $3,072 | $2,190 |
| 4 bedroom | $1,393 | $3,349 | $2,423 |