Pensacola is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Pensacola are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Pensacola are slightly higher than the national average. Pensacola 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 Pensacola.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pensacola 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 Pensacola.
The city of Pensacola in Escambia County has a population of 52,975. The median rent in Escambia County for a 2 bedroom is $1,059. The median Pensacola resident is 37 years old with a yearly income of $29,042. The average family has 3.22 members and a median household income of $50,493. Pensacola has a 37% higher education rate. The unemployment rate in Pensacola is 5.6%.
40.4% of Pensacola households are renters.
35.3% median household income spent on rent.
Bedrooms |
Escambia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $833 | $822 | $737 |
| 1 bedroom | $901 | $891 | $813 |
| 2 bedroom | $1,059 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,834 | $1,716 | $1,521 |
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