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Multifamily Loans in
St. Petersburg, FL

Overview

St. Petersburg is located in a good market for 5+ unit multifamily loans. Multifamily loans in St. Petersburg are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in St. Petersburg are competitive. St. Petersburg 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 St. Petersburg.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in St. Petersburg, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Petersburg are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.32% - 3.56%
7 Year Fixed 3.28% - 3.52%
10 Year Fixed 3.47% - 3.71%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.16% - 3.41%
7 Year Fixed 3.33% - 3.78%
10 Year Fixed 3.28% - 3.68%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in St. Petersburg may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in St. Petersburg, FL

All major multifamily lender types are lending in St. Petersburg.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 08, 2021


St. Petersburg Market

The city of St. Petersburg in Pinellas County has a population of 265,351. The median rent in Pinellas County for a 2 bedroom is $1,375. The median St. Petersburg resident is 43 years old with a yearly income of $31,259. The average family has 3.13 members and a median household income of $56,982. St. Petersburg has a 36% higher education rate. The unemployment rate in St. Petersburg is 5.1%.


Population
265,351 people

County
Pinellas County

Renters

39.6% of St. Petersburg households are renters.


Rent Burden

32% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

St. Petersburg Demographics


Median Individual Income
$31,259 / year

Median Household Income
$56,982 / year

Families w/ Dual Incomes
50%

Unemployment Rate
5.1%
Household Income Distribution
St. Petersburg, FL

Median Age
43 years

Avg Family Size
3.13 people
Age Distribution
St. Petersburg, FL

College Education or Above
36%

STEM College Graduates
43%
Education Distribution
St. Petersburg, FL
Source: U.S. Census Bureau

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