South Bradenton is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in South Bradenton are considered moderate risk due to market dynamics. Interest rates for multifamily loans in South Bradenton are slightly higher than the national average. South Bradenton 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 South Bradenton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South Bradenton 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 South Bradenton.
The city of South Bradenton in Manatee County has a population of 25,227. The median rent in Manatee County for a 2 bedroom is $1,383. The median South Bradenton resident is 45 years old with a yearly income of $22,085. The average family has 3.28 members and a median household income of $36,933. South Bradenton has a 15% higher education rate. The unemployment rate in South Bradenton is 7.0%.
46% of South Bradenton households are renters.
34.3% median household income spent on rent.
Bedrooms |
Manatee County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $912 | $822 | $737 |
| 1 bedroom | $1,076 | $891 | $813 |
| 2 bedroom | $1,383 | $1,089 | $1,015 |
| 3 bedroom | $1,829 | $1,448 | $1,325 |
| 4 bedroom | $2,202 | $1,716 | $1,521 |
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