Pawtucket is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pawtucket are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pawtucket are competitive. Pawtucket apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Pawtucket.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pawtucket 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.44% - 5.68% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Pawtucket.
The city of Pawtucket in Providence County has a population of 72,117. The median rent in Providence County for a 2 bedroom is $1,239. The median Pawtucket resident is 38 years old with a yearly income of $28,049. The average family has 3.23 members and a median household income of $50,476. Pawtucket has a 22% higher education rate. The unemployment rate in Pawtucket is 7.1%.
54.9% of Pawtucket households are renters.
32.5% median household income spent on rent.
Bedrooms |
Providence County 1 |
Rhode Island 2 |
National 2 |
|---|---|---|---|
| Studio | $915 | $936 | $737 |
| 1 bedroom | $1,030 | $1,044 | $813 |
| 2 bedroom | $1,239 | $1,270 | $1,015 |
| 3 bedroom | $1,541 | $1,615 | $1,325 |
| 4 bedroom | $1,850 | $1,932 | $1,521 |
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