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Multifamily Loans in
Jersey City, NJ

Overview

Jersey City is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Jersey City are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Jersey City are some of the lowest nationally. Jersey City 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 Jersey City.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Loan Rates in Jersey City, NJ

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jersey City are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.54% - 4.24%
7 Year Fixed 3.48% - 4.18%
10 Year Fixed 3.59% - 4.29%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.38% - 3.62%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.14% - 3.84%
7 Year Fixed 3.08% - 3.78%
10 Year Fixed 3.19% - 3.89%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.01% - 3.26%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.23% - 3.63%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 11/28/2021. This is not an offer or commitment to lend. Multifamily loan rates in Jersey City may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Nov 29, 2021


Multifamily Lenders in Jersey City, NJ

All major multifamily lender types are lending in Jersey City.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Nov 29, 2021


Jersey City Market

The city of Jersey City in Hudson County has a population of 262,075. The median rent in Hudson County for a 2 bedroom is $2,119. The median Jersey City resident is 34 years old with a yearly income of $37,776. The average family has 3.13 members and a median household income of $70,752. Jersey City has a 48% higher education rate. The unemployment rate in Jersey City is 5.7%.


Population
262,075 people

County
Hudson County

Renters

70.9% of Jersey City households are renters.


Rent Burden

28.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Jersey City Demographics


Median Individual Income
$37,776 / year

Median Household Income
$70,752 / year

Families w/ Dual Incomes
53%

Unemployment Rate
5.7%
Household Income Distribution
Jersey City, NJ

Median Age
34 years

Avg Family Size
3.13 people
Age Distribution
Jersey City, NJ

College Education or Above
48%

STEM College Graduates
52%
Education Distribution
Jersey City, NJ
Source: U.S. Census Bureau

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