Niagara Falls is located in a good market for 5+ unit multifamily loans. Multifamily loans in Niagara Falls are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Niagara Falls are competitive. Niagara Falls 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 Niagara Falls.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Niagara Falls 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 $7.5M |
---|---|
5 Year Fixed | 6.99% - 7.23% |
7 Year Fixed | 6.68% - 6.92% |
10 Year Fixed | 6.64% - 6.88% |
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® |
$7.5M to $100M |
---|---|
5 Year Fixed | 6.10% - 6.20% |
7 Year Fixed | 6.11% - 6.21% |
10 Year Fixed | 6.04% - 6.34% |
All major multifamily lender types are lending in Niagara Falls.
The city of Niagara Falls in Niagara County has a population of 47,720. The median rent in Niagara County for a 2 bedroom is $982. The median Niagara Falls resident is 38 years old with a yearly income of $23,888. The average family has 2.97 members and a median household income of $36,346. Niagara Falls has a 19% higher education rate. The unemployment rate in Niagara Falls is 6.9%.
44.3% of Niagara Falls households are renters.
35.6% median household income spent on rent.
Bedrooms |
Niagara County 1 |
New York 2 |
National 2 |
---|---|---|---|
Studio | $794 | $909 | $737 |
1 bedroom | $824 | $990 | $813 |
2 bedroom | $982 | $1,202 | $1,015 |
3 bedroom | $1,221 | $1,537 | $1,325 |
4 bedroom | $1,370 | $1,692 | $1,521 |
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