Connecticut: In the Spotlight
Connecticut, often known as the Constitution State, is home to roughly 3.5 million people. The state of Connecticut is the 29th most populous state and is also home to cities like Bridgeport, which is the most populated city in the state with more than 145,000 residents. Hartford, the capital city of Connecticut, is another key location in the state, with more than 123,000 people calling the region home.
- Connecticut is the home of the first hamburger, television, helicopter, and polaroid camera!
- Pratt & Whitney is the largest employer in Connecticut, with over 8,000 employees.
- Finance, Insurance, Agriculture, and Real Estate are the largest industries in Connecticut.
- The average household income is $78,444.
- The average age in Connecticut is 41 years old.
- Connecticut has 1.5 million employees across the state.
- The homeownership rate is just under 66%, which leaves 34% of the residents looking for apartments and rental properties.
Connecticut Apartment Loan and Multifamily Property Facts
Connecticut is seeing significant growth in many cities and regions when it comes to new residents seeking a multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 market, like many, was a little slow, but it still made some big impacts.
- Connecticut is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in Connecticut are 1.26% lower than the previous year.
- The average rent in Connecticut is $1,180.
The market for commercial real estate in Connecticut is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
Connecticut Apartment Loan and Lending Options
In the state of Connecticut, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Bridgeport or a simple eight-unit property in an up-and-coming neighborhood of New Haven. We work with opportunities like:
- Conventional apartment loans
- Fannie Mae apartment financing
- Freddie Mac apartment financing
- FHA/HUD financing
- Mezzanine financing
- CMBS Loans
- Apartment construction loans
- And more!
Finance Your Connecticut Apartment Building Now
Apartment.loans has an expert team specializing in apartment building loan products and options available for borrowers and investors of apartment properties throughout Connecticut. Whether you are looking to finance a small apartment building, a complex with hundreds of units, or a cooperative, our team endeavors to meet all of your apartment mortgage loan needs. Connecticut is a state that has been a decently strong market for apartment property loans and we are no strangers to arranging high-quality loans in the state for investors. We have a plethora of many available loan products to help qualified borrowers purchase or refinance an apartment property.
Apartment.loans offers apartment loans with terms and amortizations of up to 30 years, with recourse and non-recourse options, and flexibility when it comes to prepayment. Connecticut apartment building loans typically close within 45 days of application. With the apartment.loans streamlined application process (with no-cost and no-obligations), gain unbiased access to the best possible apartment financing in the state of Connecticut!
Apartment loans from $750,000 and up.