Hilton Head Island is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Hilton Head Island are considered greater risk due to market dynamics. Interest rates for multifamily loans in Hilton Head Island are higher than the national average. Hilton Head Island apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Hilton Head Island.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Hilton Head Island 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 | 6.58% - 6.82% |
| 7 Year Fixed | 6.42% - 6.66% |
| 10 Year Fixed | 6.38% - 6.62% |
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 | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Hilton Head Island.
The city of Hilton Head Island in Beaufort County has a population of 39,861. The median rent in Beaufort County for a 2 bedroom is $1,292. The median Hilton Head Island resident is 58 years old with a yearly income of $38,766. The average family has 2.71 members and a median household income of $84,575. Hilton Head Island has a 54% higher education rate. The unemployment rate in Hilton Head Island is 3.8%.
20.9% of Hilton Head Island households are renters.
35.2% median household income spent on rent.
Bedrooms |
Beaufort County 1 |
South Carolina 2 |
National 2 |
|---|---|---|---|
| Studio | $1,108 | $697 | $737 |
| 1 bedroom | $1,133 | $732 | $813 |
| 2 bedroom | $1,292 | $879 | $1,015 |
| 3 bedroom | $1,679 | $1,158 | $1,325 |
| 4 bedroom | $2,237 | $1,369 | $1,521 |
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