Hackensack is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Hackensack are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Hackensack are some of the lowest nationally. Hackensack 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 Hackensack.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hackensack are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Hackensack.
The city of Hackensack in Bergen County has a population of 44,188. The median rent in Bergen County for a 2 bedroom is $1,892. The median Hackensack resident is 38 years old with a yearly income of $39,858. The average family has 3.06 members and a median household income of $70,090. Hackensack has a 40% higher education rate. The unemployment rate in Hackensack is 4.1%.
66.8% of Hackensack households are renters.
31.4% median household income spent on rent.
Bedrooms |
Bergen County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,341 | $1,166 | $737 |
| 1 bedroom | $1,608 | $1,353 | $813 |
| 2 bedroom | $1,892 | $1,671 | $1,015 |
| 3 bedroom | $2,353 | $2,131 | $1,325 |
| 4 bedroom | $2,915 | $2,445 | $1,521 |
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