Queensbury is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Queensbury are considered greater risk due to market dynamics. Interest rates for multifamily loans in Queensbury are higher than the national average. Queensbury apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Queensbury.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Queensbury 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 | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.33% - 5.57% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Queensbury.
The city of Queensbury in Warren County has a population of 27,456. The median rent in Warren County for a 2 bedroom is $1,062. The median Queensbury resident is 47 years old with a yearly income of $37,031. The average family has 2.86 members and a median household income of $73,723. Queensbury has a 35% higher education rate. The unemployment rate in Queensbury is 2.6%.
26.1% of Queensbury households are renters.
30% median household income spent on rent.
Bedrooms |
Warren County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $715 | $909 | $737 |
| 1 bedroom | $839 | $990 | $813 |
| 2 bedroom | $1,062 | $1,202 | $1,015 |
| 3 bedroom | $1,386 | $1,537 | $1,325 |
| 4 bedroom | $1,458 | $1,692 | $1,521 |
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