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Multifamily Loans in
Vero Beach South, FL

Overview

Vero Beach South is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Vero Beach South are considered greater risk due to market dynamics. Interest rates for multifamily loans in Vero Beach South are higher than the national average. Vero Beach South apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Vero Beach South.

Get multifamily loan quotes for Dec 03, 2021


Multifamily Loan Rates in Vero Beach South, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Vero Beach South 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 $6M
5 Year Fixed 3.68% - 3.92%
7 Year Fixed 3.57% - 3.81%
10 Year Fixed 3.68% - 3.92%
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®
$6M to $100M
5 Year Fixed 3.21% - 3.46%
7 Year Fixed 3.38% - 3.83%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/02/2021. This is not an offer or commitment to lend. Multifamily loan rates in Vero Beach South 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 03, 2021


Multifamily Lenders in Vero Beach South, FL

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Vero Beach South.


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

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 03, 2021


Vero Beach South Market

The city of Vero Beach South in Indian River County has a population of 23,333. The median rent in Indian River County for a 2 bedroom is $1,117. The median Vero Beach South resident is 50 years old with a yearly income of $25,811. The average family has 3.31 members and a median household income of $55,085. Vero Beach South has a 25% higher education rate. The unemployment rate in Vero Beach South is 5.1%.


Population
23,333 people

County
Indian River County

Renters

22% of Vero Beach South households are renters.


Rent Burden

32.9% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Indian River County 1
Florida 2
National 2
Studio $737 $822 $737
1 bedroom $930 $891 $813
2 bedroom $1,117 $1,089 $1,015
3 bedroom $1,508 $1,448 $1,325
4 bedroom $1,765 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Vero Beach South Demographics


Median Individual Income
$25,811 / year

Median Household Income
$55,085 / year

Families w/ Dual Incomes
44%

Unemployment Rate
5.1%
Household Income Distribution
Vero Beach South, FL

Median Age
50 years

Avg Family Size
3.31 people
Age Distribution
Vero Beach South, FL

College Education or Above
25%

STEM College Graduates
43%
Education Distribution
Vero Beach South, FL
Source: U.S. Census Bureau

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