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Multifamily Loans in
West Palm Beach, FL

Overview

West Palm Beach is located in a strong market for 5+ unit multifamily loans. Multifamily loans in West Palm Beach are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in West Palm Beach are some of the lowest nationally. West Palm Beach 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 West Palm Beach.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in West Palm Beach, FL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Palm Beach 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 3.04% - 3.28%
7 Year Fixed 3.23% - 3.47%
10 Year Fixed 3.43% - 3.67%
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 3.11% - 3.36%
7 Year Fixed 3.28% - 3.73%
10 Year Fixed 3.23% - 3.63%
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 West Palm Beach 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 West Palm Beach, FL

All major multifamily lender types are lending in West Palm Beach.


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


West Palm Beach Market

The city of West Palm Beach in Palm Beach County has a population of 111,955. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median West Palm Beach resident is 40 years old with a yearly income of $28,172. The average family has 3.43 members and a median household income of $54,334. West Palm Beach has a 34% higher education rate. The unemployment rate in West Palm Beach is 7.7%.


Population
111,955 people

County
Palm Beach County

Renters

51.2% of West Palm Beach households are renters.


Rent Burden

36.4% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Palm Beach County 1
Florida 2
National 2
Studio $1,065 $822 $737
1 bedroom $1,278 $891 $813
2 bedroom $1,590 $1,089 $1,015
3 bedroom $2,149 $1,448 $1,325
4 bedroom $2,585 $1,716 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

West Palm Beach Demographics


Median Individual Income
$28,172 / year

Median Household Income
$54,334 / year

Families w/ Dual Incomes
47%

Unemployment Rate
7.7%
Household Income Distribution
West Palm Beach, FL

Median Age
40 years

Avg Family Size
3.43 people
Age Distribution
West Palm Beach, FL

College Education or Above
34%

STEM College Graduates
38%
Education Distribution
West Palm Beach, FL
Source: U.S. Census Bureau

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