Harrisburg is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Harrisburg are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Harrisburg are slightly higher than the national average. Harrisburg 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 Harrisburg.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Harrisburg 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 | 7.28% - 7.52% |
| 7 Year Fixed | 6.89% - 7.13% |
| 10 Year Fixed | 6.88% - 7.12% |
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 Harrisburg.
The city of Harrisburg in Dauphin County has a population of 49,271. The median rent in Dauphin County for a 2 bedroom is $1,042. The median Harrisburg resident is 31 years old with a yearly income of $25,047. The average family has 3.24 members and a median household income of $39,685. Harrisburg has a 22% higher education rate. The unemployment rate in Harrisburg is 8.6%.
64.4% of Harrisburg households are renters.
32% median household income spent on rent.
Bedrooms |
Dauphin County 1 |
Pennsylvania 2 |
National 2 |
|---|---|---|---|
| Studio | $694 | $680 | $737 |
| 1 bedroom | $824 | $747 | $813 |
| 2 bedroom | $1,042 | $929 | $1,015 |
| 3 bedroom | $1,324 | $1,198 | $1,325 |
| 4 bedroom | $1,413 | $1,330 | $1,521 |
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