Muhlenberg is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Muhlenberg are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Muhlenberg are slightly higher than the national average. Muhlenberg 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 Muhlenberg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Muhlenberg 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 Muhlenberg.
The city of Muhlenberg in Berks County has a population of 20,223. The median rent in Berks County for a 2 bedroom is $1,022. The median Muhlenberg resident is 39 years old with a yearly income of $32,078. The average family has 3.11 members and a median household income of $67,389. Muhlenberg has a 21% higher education rate. The unemployment rate in Muhlenberg is 5.1%.
17.3% of Muhlenberg households are renters.
30.6% median household income spent on rent.
Bedrooms |
Berks County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $674 | $680 | $737 |
| 1 bedroom | $796 | $747 | $813 |
| 2 bedroom | $1,022 | $929 | $1,015 |
| 3 bedroom | $1,271 | $1,198 | $1,325 |
| 4 bedroom | $1,386 | $1,330 | $1,521 |
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