Salem is located in a good market for 5+ unit multifamily loans. Multifamily loans in Salem are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Salem are competitive. Salem 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 Salem.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Salem are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
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 | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
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 Salem.
The city of Salem in Rockingham County has a population of 29,234. The median rent in Rockingham County for a 2 bedroom is $2,470. The median Salem resident is 44 years old with a yearly income of $40,683. The average family has 3.09 members and a median household income of $86,587. Salem has a 36% higher education rate. The unemployment rate in Salem is 3.9%.
21.9% of Salem households are renters.
32.6% median household income spent on rent.
Bedrooms |
Rockingham County 1 |
New Hampshire 2 |
National 2 |
|---|---|---|---|
| Studio | $1,842 | $842 | $737 |
| 1 bedroom | $2,034 | $959 | $813 |
| 2 bedroom | $2,470 | $1,222 | $1,015 |
| 3 bedroom | $3,072 | $1,597 | $1,325 |
| 4 bedroom | $3,349 | $1,897 | $1,521 |
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