Port Orange is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Port Orange are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Port Orange are slightly higher than the national average. Port Orange 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 Port Orange.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port Orange 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 Port Orange.
The city of Port Orange in Volusia County has a population of 64,842. The median rent in Volusia County for a 2 bedroom is $1,110. The median Port Orange resident is 46 years old with a yearly income of $28,825. The average family has 3 members and a median household income of $51,883. Port Orange has a 26% higher education rate. The unemployment rate in Port Orange is 5.4%.
27.6% of Port Orange households are renters.
40.1% median household income spent on rent.
Bedrooms |
Volusia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $732 | $822 | $737 |
| 1 bedroom | $905 | $891 | $813 |
| 2 bedroom | $1,110 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,624 | $1,716 | $1,521 |
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