Atlantic City is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Atlantic City are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Atlantic City are slightly higher than the national average. Atlantic City 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 Atlantic City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Atlantic City 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 Atlantic City.
The city of Atlantic City in Atlantic County has a population of 37,743. The median rent in Atlantic County for a 2 bedroom is $1,509. The median Atlantic City resident is 36 years old with a yearly income of $19,479. The average family has 3.36 members and a median household income of $29,232. Atlantic City has a 16% higher education rate. The unemployment rate in Atlantic City is 12.6%.
72.8% of Atlantic City households are renters.
47.7% median household income spent on rent.
Bedrooms |
Atlantic County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,012 | $1,166 | $737 |
| 1 bedroom | $1,194 | $1,353 | $813 |
| 2 bedroom | $1,509 | $1,671 | $1,015 |
| 3 bedroom | $2,067 | $2,131 | $1,325 |
| 4 bedroom | $2,302 | $2,445 | $1,521 |
We're here to help.