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Multifamily Loans in
Pittsburgh, PA

Overview

Pittsburgh is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pittsburgh are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pittsburgh are competitive. Pittsburgh 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 Pittsburgh.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Pittsburgh, PA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pittsburgh are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.42% - 3.66%
7 Year Fixed 3.33% - 3.57%
10 Year Fixed 3.52% - 3.76%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Pittsburgh may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Pittsburgh, PA

All major multifamily lender types are lending in Pittsburgh.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


Pittsburgh Market

The city of Pittsburgh in Allegheny County has a population of 300,286. The median rent in Allegheny County for a 2 bedroom is $1,022. The median Pittsburgh resident is 33 years old with a yearly income of $27,419. The average family has 2.87 members and a median household income of $48,711. Pittsburgh has a 45% higher education rate. The unemployment rate in Pittsburgh is 5.6%.


Population
300,286 people

County
Allegheny County

Renters

52.8% of Pittsburgh households are renters.


Rent Burden

33.8% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Allegheny County 1
Pennsylvania 2
National 2
Studio $776 $680 $737
1 bedroom $839 $747 $813
2 bedroom $1,022 $929 $1,015
3 bedroom $1,311 $1,198 $1,325
4 bedroom $1,436 $1,330 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Pittsburgh Demographics


Median Individual Income
$27,419 / year

Median Household Income
$48,711 / year

Families w/ Dual Incomes
52%

Unemployment Rate
5.6%
Household Income Distribution
Pittsburgh, PA

Median Age
33 years

Avg Family Size
2.87 people
Age Distribution
Pittsburgh, PA

College Education or Above
45%

STEM College Graduates
50%
Education Distribution
Pittsburgh, PA
Source: U.S. Census Bureau

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