Manchester is located in a good market for 5+ unit multifamily loans. Multifamily loans in Manchester are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Manchester are competitive. Manchester 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 Manchester.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Manchester are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Manchester.
The city of Manchester in Ocean County has a population of 43,503. The median rent in Ocean County for a 2 bedroom is $1,771. The median Manchester resident is 65 years old with a yearly income of $27,592. The average family has 2.6 members and a median household income of $43,878. Manchester has a 22% higher education rate. The unemployment rate in Manchester is 7.0%.
14.9% of Manchester households are renters.
46.7% median household income spent on rent.
Bedrooms |
Ocean County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,207 | $1,166 | $737 |
| 1 bedroom | $1,384 | $1,353 | $813 |
| 2 bedroom | $1,771 | $1,671 | $1,015 |
| 3 bedroom | $2,441 | $2,131 | $1,325 |
| 4 bedroom | $2,706 | $2,445 | $1,521 |
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