Toms River is located in a good market for 5+ unit multifamily loans. Multifamily loans in Toms River are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Toms River are competitive. Toms River 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 Toms River.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Toms River 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 Toms River.
The city of Toms River in Ocean County has a population of 92,325. The median rent in Ocean County for a 2 bedroom is $1,771. The median Toms River resident is 44 years old with a yearly income of $36,265. The average family has 3.19 members and a median household income of $79,607. Toms River has a 32% higher education rate. The unemployment rate in Toms River is 4.9%.
20.1% of Toms River households are renters.
34.5% median household income spent on rent.
Bedrooms |
Ocean County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,207 | $1,166 | $737 |
| 1 bedroom | $1,384 | $1,353 | $813 |
| 2 bedroom | $1,771 | $1,671 | $1,015 |
| 3 bedroom | $2,441 | $2,131 | $1,325 |
| 4 bedroom | $2,706 | $2,445 | $1,521 |
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