Fort Walton Beach is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fort Walton Beach are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fort Walton Beach are slightly higher than the national average. Fort Walton Beach 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 Walton Beach.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Walton 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 $6M |
|---|---|
| 5 Year Fixed | 6.53% - 6.77% |
| 7 Year Fixed | 6.32% - 6.56% |
| 10 Year Fixed | 6.28% - 6.52% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.74% - 5.84% |
| 7 Year Fixed | 5.79% - 5.89% |
| 10 Year Fixed | 5.77% - 5.87% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fort Walton Beach.
The city of Fort Walton Beach in Okaloosa County has a population of 22,521. The median rent in Okaloosa County for a 2 bedroom is $1,258. The median Fort Walton Beach resident is 42 years old with a yearly income of $28,158. The average family has 3.01 members and a median household income of $54,330. Fort Walton Beach has a 27% higher education rate. The unemployment rate in Fort Walton Beach is 5.9%.
40.9% of Fort Walton Beach households are renters.
35.5% median household income spent on rent.
Bedrooms |
Okaloosa County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,052 | $822 | $737 |
| 1 bedroom | $1,058 | $891 | $813 |
| 2 bedroom | $1,258 | $1,089 | $1,015 |
| 3 bedroom | $1,679 | $1,448 | $1,325 |
| 4 bedroom | $2,178 | $1,716 | $1,521 |
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