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Multifamily Loans in New Jersey

Overview

Of the 8,882,190 New Jersey residents, 1,170,454 (or 13.18%) live in 5+ unit apartment properties. New Jersey has approximately 636,319 multifamily units. Last year, 21,983 new apartment units were constructed in New Jersey, representing a 3.58% growth in units. Multifamily units make up 15.74% of the total housing stock in New Jersey.

Interest rates for multifamily loans in New Jersey are very competitive. New Jersey apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in New Jersey.

Get multifamily loan quotes for Sep 28, 2021


Multifamily Loan Rates in New Jersey

SoftQuotes' lender rates for 5+ unit multifamily loans in New Jersey are:

Loan Amount
$1M to $6M
5 Year Fixed 3.04% - 4.02%
7 Year Fixed 3.28% - 3.92%
10 Year Fixed 3.48% - 4.12%
Loan Amount
$6M to $100M
5 Year Fixed 2.54% - 2.94%
7 Year Fixed 2.83% - 3.43%
10 Year Fixed 2.95% - 3.50%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 09/27/2021.

Get multifamily loan quotes for Sep 28, 2021


New Jersey Rents

The state of New Jersey has rent control.

Bedrooms
Low1
High2
Average2
Studio $962 $1,677 $1,166
1 bedroom $1,101 $1,825 $1,353
2 bedroom $1,356 $2,119 $1,671
3 bedroom $1,687 $2,636 $2,131
4 bedroom $1,839 $2,915 $2,445
1 County median 2 Average of counties

New Jersey Multifamily Loans by City