Coral Gables is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Coral Gables are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Coral Gables are some of the lowest nationally. Coral Gables 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 Coral Gables.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coral Gables are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 6.77% - 7.01% |
| 7 Year Fixed | 6.73% - 6.97% |
| 10 Year Fixed | 6.69% - 6.93% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Coral Gables.
The city of Coral Gables in Miami-Dade County has a population of 49,700. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median Coral Gables resident is 40 years old with a yearly income of $44,870. The average family has 3.23 members and a median household income of $100,843. Coral Gables has a 67% higher education rate. The unemployment rate in Coral Gables is 3.2%.
36.5% of Coral Gables households are renters.
32.4% median household income spent on rent.
Bedrooms |
Miami-Dade County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,148 | $822 | $737 |
| 1 bedroom | $1,336 | $891 | $813 |
| 2 bedroom | $1,684 | $1,089 | $1,015 |
| 3 bedroom | $2,245 | $1,448 | $1,325 |
| 4 bedroom | $2,696 | $1,716 | $1,521 |
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