2,839,212 (or 13.22%) of the 21,477,737 population of Florida live in 5+ unit apartment properties. Florida has approximately 1,481,325 multifamily units. Last year, 45,417 new apartment units were constructed in Florida, representing a 3.16% growth in units. Multifamily units make up 17.67% of the total housing stock in Florida.
Interest rates for multifamily loans in Florida are very competitive. Florida apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Florida.
SoftQuotes' lender rates for 5+ unit multifamily loans in Florida are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.91% - 6.92% |
| 7 Year Fixed | 5.82% - 7.04% |
| 10 Year Fixed | 5.84% - 7.08% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.88% - 6.18% |
| 7 Year Fixed | 6.01% - 6.24% |
| 10 Year Fixed | 5.94% - 6.24% |
The state of Florida prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $503 | $1,441 | $822 |
| 1 bedroom | $557 | $1,489 | $891 |
| 2 bedroom | $734 | $1,932 | $1,089 |
| 3 bedroom | $913 | $2,501 | $1,448 |
| 4 bedroom | $1,021 | $3,319 | $1,716 |