Rochester is located in a good market for 5+ unit multifamily loans. Multifamily loans in Rochester are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Rochester are competitive. Rochester 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 Rochester.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Rochester 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 Rochester.
The city of Rochester in Monroe County has a population of 205,695. The median rent in Monroe County for a 2 bedroom is $1,070. The median Rochester resident is 32 years old with a yearly income of $22,140. The average family has 3.2 members and a median household income of $35,590. Rochester has a 25% higher education rate. The unemployment rate in Rochester is 10.2%.
63.6% of Rochester households are renters.
39.1% median household income spent on rent.
Bedrooms |
Monroe County 1 |
New York 2 |
National 2 |
|---|---|---|---|
| Studio | $742 | $909 | $737 |
| 1 bedroom | $856 | $990 | $813 |
| 2 bedroom | $1,070 | $1,202 | $1,015 |
| 3 bedroom | $1,331 | $1,537 | $1,325 |
| 4 bedroom | $1,451 | $1,692 | $1,521 |
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