Poughkeepsie is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Poughkeepsie are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Poughkeepsie are slightly higher than the national average. Poughkeepsie 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 Poughkeepsie.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Poughkeepsie 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 Poughkeepsie.
The city of Poughkeepsie in Dutchess County has a population of 30,515. The median rent in Dutchess County for a 2 bedroom is $1,575. The median Poughkeepsie resident is 38 years old with a yearly income of $25,819. The average family has 3.11 members and a median household income of $43,794. Poughkeepsie has a 23% higher education rate. The unemployment rate in Poughkeepsie is 9.4%.
65.3% of Poughkeepsie households are renters.
41.8% median household income spent on rent.
Bedrooms |
Dutchess County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,169 | $909 | $737 |
| 1 bedroom | $1,246 | $990 | $813 |
| 2 bedroom | $1,575 | $1,202 | $1,015 |
| 3 bedroom | $2,005 | $1,537 | $1,325 |
| 4 bedroom | $2,251 | $1,692 | $1,521 |
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