Bayonne is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Bayonne are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Bayonne are some of the lowest nationally. Bayonne 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 Bayonne.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bayonne are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Bayonne.
The city of Bayonne in Hudson County has a population of 64,897. The median rent in Hudson County for a 2 bedroom is $2,119. The median Bayonne resident is 38 years old with a yearly income of $36,268. The average family has 3.27 members and a median household income of $63,947. Bayonne has a 37% higher education rate. The unemployment rate in Bayonne is 6.0%.
61.5% of Bayonne households are renters.
30.7% median household income spent on rent.
Bedrooms |
Hudson County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,677 | $1,166 | $737 |
| 1 bedroom | $1,825 | $1,353 | $813 |
| 2 bedroom | $2,119 | $1,671 | $1,015 |
| 3 bedroom | $2,636 | $2,131 | $1,325 |
| 4 bedroom | $2,873 | $2,445 | $1,521 |
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