Delray Beach is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Delray Beach are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Delray Beach are some of the lowest nationally. Delray Beach 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 Delray Beach.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Delray Beach 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 | 6.12% - 6.36% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
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 | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Delray Beach.
The city of Delray Beach in Palm Beach County has a population of 69,451. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median Delray Beach resident is 48 years old with a yearly income of $31,059. The average family has 3.13 members and a median household income of $60,746. Delray Beach has a 38% higher education rate. The unemployment rate in Delray Beach is 6.4%.
38.1% of Delray Beach households are renters.
35.8% median household income spent on rent.
Bedrooms |
Palm Beach County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,065 | $822 | $737 |
| 1 bedroom | $1,278 | $891 | $813 |
| 2 bedroom | $1,590 | $1,089 | $1,015 |
| 3 bedroom | $2,149 | $1,448 | $1,325 |
| 4 bedroom | $2,585 | $1,716 | $1,521 |
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