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Multifamily Loans in Rhode Island

Overview

105,411 (or 9.95%) of the 1,059,361 population of Rhode Island live in 5+ unit apartment properties. Rhode Island has approximately 70,067 multifamily units. Last year, 107 new apartment units were constructed in Rhode Island, representing a 0.15% growth in units. Multifamily units make up 16.37% of the total housing stock in Rhode Island.

Interest rates for multifamily loans in Rhode Island are very competitive. Rhode Island 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 Rhode Island.

Get multifamily loan quotes for Mar 02, 2024


Multifamily Loan Rates in Rhode Island

SoftQuotes' lender rates for 5+ unit multifamily loans in Rhode Island 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


Rhode Island Rents

The state of Rhode Island has no rent control or preemptions.

Bedrooms
Low1
High2
Average2
Studio $915 $1,105 $936
1 bedroom $999 $1,245 $1,044
2 bedroom $1,239 $1,616 $1,270
3 bedroom $1,541 $2,283 $1,615
4 bedroom $1,850 $2,798 $1,932
1 County median 2 Average of counties
Source: Federal Housing Finance Agency