North Bay Shore is located in a strong market for 5+ unit multifamily loans. Multifamily loans in North Bay Shore are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in North Bay Shore are some of the lowest nationally. North Bay Shore 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 North Bay Shore.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Bay Shore are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.74% - 7.48% |
| 7 Year Fixed | 6.70% - 7.21% |
| 10 Year Fixed | 6.71% - 7.11% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.97% - 7.21% |
| 7 Year Fixed | 6.93% - 7.17% |
| 10 Year Fixed | 6.84% - 7.08% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.54% - 7.28% |
| 7 Year Fixed | 6.50% - 7.01% |
| 10 Year Fixed | 6.51% - 6.91% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in North Bay Shore.
The city of North Bay Shore in Suffolk County has a population of 21,679. The median rent in Suffolk County for a 2 bedroom is $2,190. The median North Bay Shore resident is 31 years old with a yearly income of $30,025. The average family has 5.04 members and a median household income of $89,275. North Bay Shore has a 14% higher education rate. The unemployment rate in North Bay Shore is 8.6%.
23.2% of North Bay Shore households are renters.
31.7% median household income spent on rent.
Bedrooms |
Suffolk County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $1,445 | $909 | $737 |
| 1 bedroom | $1,786 | $990 | $813 |
| 2 bedroom | $2,190 | $1,202 | $1,015 |
| 3 bedroom | $2,804 | $1,537 | $1,325 |
| 4 bedroom | $3,116 | $1,692 | $1,521 |
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