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Multifamily Loans in
Manhattan, KS

Overview

Manhattan is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Manhattan are considered greater risk due to market dynamics. Interest rates for multifamily loans in Manhattan are higher than the national average. Manhattan apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Manhattan.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Manhattan, KS

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

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Manhattan 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 Dec 08, 2021


Multifamily Lenders in Manhattan, KS

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Manhattan.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Manhattan Market

The city of Manhattan in Riley County has a population of 54,604. The median rent in Riley County for a 2 bedroom is $964. The median Manhattan resident is 25 years old with a yearly income of $20,079. The average family has 3 members and a median household income of $50,537. Manhattan has a 52% higher education rate. The unemployment rate in Manhattan is 5.2%.


Population
54,604 people

County
Riley County

Renters

61% of Manhattan households are renters.


Rent Burden

32.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Riley County 1
Kansas 2
National 2
Studio $760 $581 $737
1 bedroom $765 $612 $813
2 bedroom $964 $781 $1,015
3 bedroom $1,278 $1,027 $1,325
4 bedroom $1,669 $1,166 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Manhattan Demographics


Median Individual Income
$20,079 / year

Median Household Income
$50,537 / year

Families w/ Dual Incomes
56%

Unemployment Rate
5.2%
Household Income Distribution
Manhattan, KS

Median Age
25 years

Avg Family Size
3 people
Age Distribution
Manhattan, KS

College Education or Above
52%

STEM College Graduates
50%
Education Distribution
Manhattan, KS
Source: U.S. Census Bureau

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