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Multifamily Loans in
Atlantic City, NJ

Overview

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.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Atlantic City, NJ

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 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.61% - 3.85%
7 Year Fixed 3.44% - 3.68%
10 Year Fixed 3.66% - 3.90%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.10% - 3.35%
7 Year Fixed 3.30% - 3.75%
10 Year Fixed 3.30% - 3.70%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Atlantic City may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Lenders in Atlantic City, NJ

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Atlantic City.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 02, 2021


Atlantic City Market

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%.


Population
37,743 people

County
Atlantic County

Renters

72.8% of Atlantic City households are renters.


Rent Burden

47.7% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Atlantic City Demographics


Median Individual Income
$19,479 / year

Median Household Income
$29,232 / year

Families w/ Dual Incomes
42%

Unemployment Rate
12.6%
Household Income Distribution
Atlantic City, NJ

Median Age
36 years

Avg Family Size
3.36 people
Age Distribution
Atlantic City, NJ

College Education or Above
16%

STEM College Graduates
40%
Education Distribution
Atlantic City, NJ
Source: U.S. Census Bureau

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