378,384 (or 10.61%) of the 3,565,287 population of Connecticut live in 5+ unit apartment properties. Connecticut has approximately 234,089 multifamily units. Last year, 2,673 new apartment units were constructed in Connecticut, representing a 1.16% growth in units. Multifamily units make up 11.25% of the total housing stock in Connecticut.
Interest rates for multifamily loans in Connecticut are very competitive. Connecticut apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Connecticut.
SoftQuotes' lender rates for 5+ unit multifamily loans in Connecticut are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.18% |
| 7 Year Fixed | 6.01% - 6.24% |
| 10 Year Fixed | 5.94% - 6.24% |
The state of Connecticut prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $825 | $1,406 | $974 |
| 1 bedroom | $870 | $1,764 | $1,155 |
| 2 bedroom | $1,102 | $2,131 | $1,442 |
| 3 bedroom | $1,391 | $2,654 | $1,820 |
| 4 bedroom | $1,771 | $2,960 | $2,144 |