Pinellas Park is located in a good market for 5+ unit multifamily loans. Multifamily loans in Pinellas Park are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Pinellas Park are competitive. Pinellas Park apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Pinellas Park.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Pinellas Park 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.34% - 6.58% |
| 7 Year Fixed | 6.23% - 6.47% |
| 10 Year Fixed | 6.24% - 6.48% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.59% - 5.69% |
| 7 Year Fixed | 5.64% - 5.74% |
| 10 Year Fixed | 5.62% - 5.72% |
All major multifamily lender types are lending in Pinellas Park.
The city of Pinellas Park in Pinellas County has a population of 53,637. The median rent in Pinellas County for a 2 bedroom is $1,375. The median Pinellas Park resident is 44 years old with a yearly income of $27,471. The average family has 3.17 members and a median household income of $49,652. Pinellas Park has a 22% higher education rate. The unemployment rate in Pinellas Park is 5.4%.
32.1% of Pinellas Park households are renters.
35.4% median household income spent on rent.
Bedrooms |
Pinellas County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,070 | $822 | $737 |
| 1 bedroom | $1,125 | $891 | $813 |
| 2 bedroom | $1,375 | $1,089 | $1,015 |
| 3 bedroom | $1,786 | $1,448 | $1,325 |
| 4 bedroom | $2,194 | $1,716 | $1,521 |
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