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Multifamily Loans in
Palm City, FL

Overview

Palm City is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Palm City are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Palm City are slightly higher than the national average. Palm City 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 Palm City.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Palm City, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Palm City are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.51% - 3.75%
7 Year Fixed 3.37% - 3.61%
10 Year Fixed 3.51% - 3.75%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.33% - 3.73%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Palm City 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 Dec 08, 2021


Multifamily Lenders in Palm City, FL

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


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 Dec 08, 2021


Palm City Market

The city of Palm City in Martin County has a population of 24,840. The median rent in Martin County for a 2 bedroom is $1,298. The median Palm City resident is 51 years old with a yearly income of $40,613. The average family has 3.09 members and a median household income of $84,711. Palm City has a 46% higher education rate. The unemployment rate in Palm City is 4.0%.


Population
24,840 people

County
Martin County

Renters

14.9% of Palm City households are renters.


Rent Burden

29.3% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Martin 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

Palm City Demographics


Median Individual Income
$40,613 / year

Median Household Income
$84,711 / year

Families w/ Dual Incomes
46%

Unemployment Rate
4.0%
Household Income Distribution
Palm City, FL

Median Age
51 years

Avg Family Size
3.09 people
Age Distribution
Palm City, FL

College Education or Above
46%

STEM College Graduates
46%
Education Distribution
Palm City, FL
Source: U.S. Census Bureau

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