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Multifamily Loans in Pennsylvania

Overview

954,139 (or 7.45%) of the 12,801,989 population of Pennsylvania live in 5+ unit apartment properties. Pennsylvania has approximately 650,031 multifamily units. Last year, 7,921 new apartment units were constructed in Pennsylvania, representing a 1.23% growth in units. Multifamily units make up 12.24% of the total housing stock in Pennsylvania.

Interest rates for multifamily loans in Pennsylvania are very competitive. Pennsylvania 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 Pennsylvania.

Get multifamily loan quotes for Mar 02, 2024


Multifamily Loan Rates in Pennsylvania

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

Loan Amount
$1M to $6M
5 Year Fixed 6.32% - 6.92%
7 Year Fixed 6.43% - 6.68%
10 Year Fixed 6.39% - 6.72%
Loan Amount
$6M to $100M
5 Year Fixed 5.44% - 5.99%
7 Year Fixed 5.49% - 6.04%
10 Year Fixed 5.47% - 6.02%
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 03/01/2024.

Get multifamily loan quotes for Mar 02, 2024


Pennsylvania Rents

The state of Pennsylvania is a Dillon Rule state with no rent control nor preemptions.

Bedrooms
Low1
High2
Average2
Studio $478 $1,098 $680
1 bedroom $549 $1,121 $747
2 bedroom $724 $1,437 $929
3 bedroom $901 $2,057 $1,198
4 bedroom $982 $2,471 $1,330
1 County median 2 Average of counties
Source: Federal Housing Finance Agency