North Tonawanda is located in a good market for 5+ unit multifamily loans. Multifamily loans in North Tonawanda are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in North Tonawanda are competitive. North Tonawanda 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 Tonawanda.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in North Tonawanda are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in North Tonawanda.
The city of North Tonawanda in Niagara County has a population of 30,245. The median rent in Niagara County for a 2 bedroom is $982. The median North Tonawanda resident is 46 years old with a yearly income of $31,942. The average family has 2.88 members and a median household income of $58,211. North Tonawanda has a 25% higher education rate. The unemployment rate in North Tonawanda is 4.8%.
30.6% of North Tonawanda households are renters.
26.3% 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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