Plant City is located in a good market for 5+ unit multifamily loans. Multifamily loans in Plant City are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Plant City are competitive. Plant City 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 Plant City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Plant City 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 Plant City.
The city of Plant City in Hillsborough County has a population of 39,744. The median rent in Hillsborough County for a 2 bedroom is $1,375. The median Plant City resident is 37 years old with a yearly income of $29,392. The average family has 3.36 members and a median household income of $54,235. Plant City has a 22% higher education rate. The unemployment rate in Plant City is 5.3%.
41.1% of Plant City households are renters.
32.4% median household income spent on rent.
Bedrooms |
Hillsborough 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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