Raleigh, North Carolina
Raleigh Apartment Loans in 2026
Raleigh is one corner of the Research Triangle, and its apartment market rides on state government, NC State University and Research Triangle Park. Raleigh apartment loans through us range from $1,500,000 upward at as much as 80% LTV, every quote comes from comparing bank, agency and HUD offers, and the best-qualified buildings start at 6.02%. See North Carolina apartment loans for markets beyond Wake County, Raleigh multifamily financing for larger properties, and our commercial mortgage rates page for current pricing.
Get a Free QuoteWhere the Raleigh Apartment Market Stands in 2026
Raleigh apartment rents are flat to slightly lower this year. The October 2026 Apartment List report has the city median at $1,375, flat for the month and 1.1% lower than last year, with one- and two-bedroom medians of $1,212 and $1,381; across the wider metro the median is $1,399, down 0.8%. On RentCafe's measure, an average across complexes of 50 or more units, the city's figure for September 30, 2026 was $1,594, down 0.92% from a year earlier.
Job Growth Behind Raleigh Renter Demand
Job growth is the reason lenders stay constructive. Wake County Economic Development counts 24 new and expanding companies bringing 1,411 jobs and $799 million of investment between October 2025 and September 2026, and the state has given Apple's delayed Research Triangle Park campus, announced in 2021 with 3,000 jobs, a four-year extension, with hiring now measured from the end of 2027 through 2036. A Raleigh apartment loan today is underwritten on current rents, with that growth treated as support rather than as income.
Raleigh Apartment Loan Rates
Rates updated as of November 12, 2026
Expect these best-case rates on a stabilized building. Where newer properties still offer concessions, lenders here look at net effective rents and trailing collections, not just the asking rents.
| Loan Type | Rate* | Max LTV |
|---|---|---|
| 5 Year Fixed | 6.42% | Up to 80% |
| 7 Year Fixed | 6.45% | Up to 80% |
| 10 Year Fixed | 6.51% | Up to 80% |
- Cash-out refinances are acceptable
- Interest-only and non-recourse options
- Minimum 1.25x debt-service-coverage ratio
See Raleigh Multifamily Rates Over $6 Million, Starting at 6.02%
Rates last updated November 12, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.
Raleigh Neighborhoods From North Hills to Brier Creek
North Hills ranks third in RentCafe's September 2026 neighborhood figures at about $2,401, and Downtown Raleigh averages $1,929, Cameron Village $1,836, Glenwood $1,832 and Brier Creek $1,538. Downtown's Warehouse District is a walkable area of art, restaurants and nightlife, Glenwood South packs in bars, galleries and patios, and Brier Creek sits near RDU airport and Umstead Park.
We place Raleigh apartment loans inside the Beltline and well beyond it, in neighborhoods like:
- Downtown Raleigh
- North Hills
- Five Points
- Village District
- Glenwood South
- Boylan Heights
- Oakwood
- Mordecai
- Brier Creek
- Hayes Barton
- Warehouse District
- Fayetteville Street District
- Cameron Park
- Midtown
- Inside the Beltline
Bank, Agency or HUD: Raleigh Apartment Loan Options
Most of the capital sources we work with want Raleigh buildings. Their opening rates:
| Program | Typical rate* | Max leverage | Best for |
|---|---|---|---|
| Fannie Mae Small Loan | 6.42% | Up to 80% | Non-recourse, fixed to 30 yrs |
| Freddie Mac SBL | 6.55% | Up to 80% | $2M to $10M small balance |
| FHA / HUD | 6.74% | Up to 85% | Highest leverage, longest term |
| Bank / portfolio | 6.50% | Up to 75% | Flexible, value-add |
| Bridge | 9.00% | Up to 80% LTC | Reposition, lease-up |
Lenders will measure the 1.25x coverage minimum on collections net of concessions. For bigger loans, Raleigh multifamily loans covers the programs that apply.
Rates last updated November 12, 2026. Rates and maximum LTV shown represent our best-case pricing scenarios. Actual rates, LTV, and loan terms are subject to underwriting approval and may vary.
North Carolina Rules and Taxes for Raleigh Apartment Owners
No rent control, and limits on registration. N.C.G.S. 42-14.1 keeps North Carolina counties and cities out of rent setting on private rental property, and a 2024 amendment (S.L. 2024-47) also bars local rules that would stop owners from declining federal housing assistance as a source of income, with narrow exceptions for subsidized or locally funded properties. Under N.C.G.S. 160D-1207, local governments generally cannot require a permit or registration to rent residential property, except for individual properties with repeated verified violations or that rank in the top 10% for crime or disorder problems.
Revaluation is speeding up. Wake County used to revalue real estate every four years, most recently effective January 1, 2024. In March 2025 it moved to more frequent cycles, with the next revaluations effective January 1, 2027 and January 1, 2029. Expect a new value, and a new tax line, within months of closing a loan this year. The combined 2026 rate for a Raleigh property is 0.9091 per $100 of value, Wake County's 0.5371 plus the City's 0.3720, according to Wake County. Property in a special tax district pays more.
Low closing taxes. North Carolina's deed excise tax is $1 per $500 of value, paid by the seller, so a $5,000,000 sale pays $10,000. A deed of trust that secures a loan is exempt from the excise tax, and recording one costs a flat $64 for the first 35 pages plus $4 for each additional page. There is no separate mortgage tax.
Financing Options in Raleigh
Your property type decides where the financing starts:
Buying in Charlotte or Durham as well? Start with North Carolina apartment loans.
Timing a Raleigh Refinance Around the 2027 Revaluation
Timing matters more than usual because of the 2027 revaluation. If you refinance now, the lender sizes the loan on today's tax bill but will ask how a new value next January would affect coverage, so we model both before you choose a loan amount.
Properties that leased up in recent years often carried concessions, and as those burn off, net income can rise even when asking rents are flat. If your trailing 12 months still includes heavy concessions, a short bridge loan or a lower first-year amount with a future funding option may be better than locking in proceeds that understate the building.
Raleigh Apartment Building Loans Across the Triangle
The local rental stock runs from suburban garden communities to mid-rise buildings downtown and in North Hills. Raleigh owners come to us with:
- Garden-style communities across Wake County
- Mid-rise buildings downtown and in North Hills
- Student housing near NC State
- Older infill properties inside the Beltline
- Workforce and affordable housing
- Glenwood South buildings with bars and restaurants on the ground floor
Fannie Mae, Freddie Mac and HUD Loans in Raleigh
Raleigh's newer, larger communities fit Fannie Mae and Freddie Mac programs well, with HUD and CMBS as alternatives. Expect non-recourse terms, leverage around 80% and fixed rates of up to 30 years, with HUD amortizing over a longer schedule. At this size, lenders also look harder at the sponsor's record in the Triangle and at how the property competes with the communities delivered nearby since 2023.
Read the large-balance detail on Raleigh multifamily loans, and see how Fannie Mae differs from Freddie Mac.
Raleigh Multifamily Loan Rates
For larger balances, over $6 million
Triangle Commercial Property: What Else We Finance in Raleigh
Beyond apartment buildings, our Raleigh lending covers:
Nearby Apartment Loan Markets
Charlotte is the other North Carolina city we cover on its own page:
Recent Apartment Loan Closings
Every closing below went through the same multi-lender bidding a Raleigh deal gets.
What Our Clients Say
“I am a veterinarian who purchased an existing practice. I was surprised to find a company that offered 100% financing at a good rate, with great terms and rates for medical office financing.”
Carol K. · Chicago, IL“I spoke to several commercial lenders before finding Select Commercial. They got me a lower rate and their service was exceptional. If you need a multifamily loan, you need to talk to Stephen.”
Nathan B. · Philadelphia, PA“Select Commercial was very helpful with my multifamily mortgage. Stephen went over several options and we came up with the best lender to meet my needs. I got the funds and also lowered my payments.”
Gary M. · Portland, OR“Select Commercial offered 100% financing for my medical practice when my bank would have required 20% down. They delivered something my bank could not, and handled everything professionally.”
John C. · Boston, MAGet Your Raleigh Apartment Loan Quote
Along with the rent roll, send the concession schedule and 12 months of operating history for your Raleigh building; we will work out the loan amount your net effective rents support.
- No application or processing fees
- Written answers within 48 hours
- For 5+ unit and commercial properties, $1.5M and up