Hanahan is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Hanahan are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Hanahan are slightly higher than the national average. Hanahan 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 Hanahan.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hanahan are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.18% - 7.42% |
| 7 Year Fixed | 6.82% - 7.06% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Hanahan.
The city of Hanahan in Berkeley County has a population of 26,917. The median rent in Berkeley County for a 2 bedroom is $1,317. The median Hanahan resident is 34 years old with a yearly income of $33,975. The average family has 3.26 members and a median household income of $70,043. Hanahan has a 34% higher education rate. The unemployment rate in Hanahan is 3.7%.
33.6% of Hanahan households are renters.
30.5% median household income spent on rent.
Bedrooms |
Berkeley County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,091 | $697 | $737 |
| 1 bedroom | $1,155 | $732 | $813 |
| 2 bedroom | $1,317 | $879 | $1,015 |
| 3 bedroom | $1,685 | $1,158 | $1,325 |
| 4 bedroom | $2,194 | $1,369 | $1,521 |
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