Plum is located in a good market for 5+ unit multifamily loans. Multifamily loans in Plum are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Plum are competitive. Plum 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 Plum.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Plum 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 Plum.
The city of Plum in Allegheny County has a population of 27,087. The median rent in Allegheny County for a 2 bedroom is $1,022. The median Plum resident is 45 years old with a yearly income of $40,446. The average family has 2.85 members and a median household income of $78,709. Plum has a 37% higher education rate. The unemployment rate in Plum is 3.0%.
20.4% of Plum households are renters.
23% median household income spent on rent.
Bedrooms |
Allegheny County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $776 | $680 | $737 |
| 1 bedroom | $839 | $747 | $813 |
| 2 bedroom | $1,022 | $929 | $1,015 |
| 3 bedroom | $1,311 | $1,198 | $1,325 |
| 4 bedroom | $1,436 | $1,330 | $1,521 |
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