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Multifamily Loans in
Fort Pierce, FL

Overview

Fort Pierce is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fort Pierce are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fort Pierce are slightly higher than the national average. Fort Pierce apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Fort Pierce.

Get multifamily loan quotes for Apr 24, 2024


Multifamily Loan Rates in Fort Pierce, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Pierce 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 $6M
5 Year Fixed 7.18% - 7.42%
7 Year Fixed 6.82% - 7.06%
10 Year Fixed 6.73% - 6.97%
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®
$6M to $100M
5 Year Fixed 6.25% - 6.35%
7 Year Fixed 6.26% - 6.36%
10 Year Fixed 6.19% - 6.39%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 04/23/2024. This is not an offer or commitment to lend. Multifamily loan rates in Fort Pierce may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Apr 24, 2024


Multifamily Lenders in Fort Pierce, FL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fort Pierce.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Apr 24, 2024


Fort Pierce Market

The city of Fort Pierce in St. Lucie County has a population of 46,103. The median rent in St. Lucie County for a 2 bedroom is $1,298. The median Fort Pierce resident is 38 years old with a yearly income of $21,095. The average family has 3.49 members and a median household income of $35,198. Fort Pierce has a 16% higher education rate. The unemployment rate in Fort Pierce is 7.0%.


Population
46,103 people

County
St. Lucie County

Renters

53.9% of Fort Pierce households are renters.


Rent Burden

41.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
St. Lucie County 1
Florida 2
National 2
Studio $993 $822 $737
1 bedroom $999 $891 $813
2 bedroom $1,298 $1,089 $1,015
3 bedroom $1,735 $1,448 $1,325
4 bedroom $1,962 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Fort Pierce Demographics


Median Individual Income
$21,095 / year

Median Household Income
$35,198 / year

Families w/ Dual Incomes
40%

Unemployment Rate
7.0%
Household Income Distribution
Fort Pierce, FL

Median Age
38 years

Avg Family Size
3.49 people
Age Distribution
Fort Pierce, FL

College Education or Above
16%

STEM College Graduates
41%
Education Distribution
Fort Pierce, FL
Source: U.S. Census Bureau

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