87,857 (or 6.54%) of the 1,344,212 population of Maine live in 5+ unit apartment properties. Maine has approximately 61,609 multifamily units. Last year, 853 new apartment units were constructed in Maine, representing a 1.4% growth in units. Multifamily units make up 9.11% of the total housing stock in Maine.
Interest rates for multifamily loans in Maine are very competitive. Maine 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 Maine.
SoftQuotes' lender rates for 5+ unit multifamily loans in Maine are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.42% - 5.92% |
| 7 Year Fixed | 5.48% - 5.63% |
| 10 Year Fixed | 5.34% - 5.57% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.85% |
| 7 Year Fixed | 5.56% - 5.86% |
| 10 Year Fixed | 5.56% - 5.86% |
The state of Maine has no rent control or preemptions.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $494 | $1,147 | $700 |
| 1 bedroom | $628 | $1,295 | $761 |
| 2 bedroom | $748 | $1,678 | $956 |
| 3 bedroom | $1,030 | $2,172 | $1,232 |
| 4 bedroom | $1,096 | $2,730 | $1,424 |