New Hartford is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in New Hartford are considered moderate risk due to market dynamics. Interest rates for multifamily loans in New Hartford are slightly higher than the national average. New Hartford 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 New Hartford.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in New Hartford 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 New Hartford.
The city of New Hartford in Oneida County has a population of 21,836. The median rent in Oneida County for a 2 bedroom is $847. The median New Hartford resident is 47 years old with a yearly income of $37,498. The average family has 2.94 members and a median household income of $67,056. New Hartford has a 45% higher education rate. The unemployment rate in New Hartford is 2.5%.
24.3% of New Hartford households are renters.
26.2% median household income spent on rent.
Bedrooms |
Oneida County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $624 | $909 | $737 |
| 1 bedroom | $665 | $990 | $813 |
| 2 bedroom | $847 | $1,202 | $1,015 |
| 3 bedroom | $1,054 | $1,537 | $1,325 |
| 4 bedroom | $1,213 | $1,692 | $1,521 |
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