Palm Coast is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Palm Coast are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Palm Coast are slightly higher than the national average. Palm Coast 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 Coast.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Palm Coast 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% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Palm Coast.
The city of Palm Coast in Flagler County has a population of 89,800. The median rent in Flagler County for a 2 bedroom is $1,173. The median Palm Coast resident is 49 years old with a yearly income of $26,444. The average family has 3.09 members and a median household income of $54,360. Palm Coast has a 23% higher education rate. The unemployment rate in Palm Coast is 5.0%.
25.7% of Palm Coast households are renters.
35.7% median household income spent on rent.
Bedrooms |
Flagler County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $793 | $822 | $737 |
| 1 bedroom | $911 | $891 | $813 |
| 2 bedroom | $1,173 | $1,089 | $1,015 |
| 3 bedroom | $1,544 | $1,448 | $1,325 |
| 4 bedroom | $1,741 | $1,716 | $1,521 |
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