Monsey is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Monsey are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Monsey are some of the lowest nationally. Monsey 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 Monsey.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Monsey are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.23% - 6.97% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.21% - 6.61% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.03% - 6.77% |
| 7 Year Fixed | 6.00% - 6.51% |
| 10 Year Fixed | 6.01% - 6.41% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.03% |
| 7 Year Fixed | 6.01% - 6.09% |
| 10 Year Fixed | 5.94% - 6.09% |
All major multifamily lender types are lending in Monsey.
The city of Monsey in Rockland County has a population of 23,055. The median rent in Rockland County for a 2 bedroom is $2,263. The median Monsey resident is 16 years old with a yearly income of $20,042. The average family has 5.81 members and a median household income of $45,399. Monsey has a 12% higher education rate. The unemployment rate in Monsey is 7.4%.
64.2% of Monsey households are renters.
53.3% median household income spent on rent.
Bedrooms |
Rockland County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,940 | $909 | $737 |
| 1 bedroom | $1,985 | $990 | $813 |
| 2 bedroom | $2,263 | $1,202 | $1,015 |
| 3 bedroom | $2,864 | $1,537 | $1,325 |
| 4 bedroom | $3,069 | $1,692 | $1,521 |
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