Port St. Lucie is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Port St. Lucie are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Port St. Lucie are slightly higher than the national average. Port St. Lucie 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 St. Lucie.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port St. Lucie 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 Port St. Lucie.
The city of Port St. Lucie in St. Lucie County has a population of 201,846. The median rent in St. Lucie County for a 2 bedroom is $1,298. The median Port St. Lucie resident is 43 years old with a yearly income of $28,704. The average family has 3.35 members and a median household income of $60,587. Port St. Lucie has a 23% higher education rate. The unemployment rate in Port St. Lucie is 4.7%.
23.1% of Port St. Lucie households are renters.
32.3% median household income spent on rent.
Bedrooms |
St. Lucie County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $993 | $822 | $737 |
| 1 bedroom | $999 | $891 | $813 |
| 2 bedroom | $1,298 | $1,089 | $1,015 |
| 3 bedroom | $1,735 | $1,448 | $1,325 |
| 4 bedroom | $1,962 | $1,716 | $1,521 |
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