Rahway is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Rahway are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Rahway are some of the lowest nationally. Rahway 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 Rahway.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rahway are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.38% - 7.12% |
| 7 Year Fixed | 6.40% - 6.91% |
| 10 Year Fixed | 6.45% - 6.85% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.32% - 6.56% |
| 7 Year Fixed | 6.43% - 6.67% |
| 10 Year Fixed | 6.39% - 6.63% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.18% - 6.92% |
| 7 Year Fixed | 6.20% - 6.71% |
| 10 Year Fixed | 6.25% - 6.65% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Rahway.
The city of Rahway in Union County has a population of 29,895. The median rent in Union County for a 2 bedroom is $1,776. The median Rahway resident is 39 years old with a yearly income of $39,164. The average family has 3.37 members and a median household income of $78,946. Rahway has a 30% higher education rate. The unemployment rate in Rahway is 4.4%.
40.3% of Rahway households are renters.
31.7% median household income spent on rent.
Bedrooms |
Union County 1 |
New Jersey 2 |
National 2 |
|---|---|---|---|
| Studio | $1,221 | $1,166 | $737 |
| 1 bedroom | $1,468 | $1,353 | $813 |
| 2 bedroom | $1,776 | $1,671 | $1,015 |
| 3 bedroom | $2,265 | $2,131 | $1,325 |
| 4 bedroom | $2,700 | $2,445 | $1,521 |
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