Wright is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Wright are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Wright are slightly higher than the national average. Wright 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 Wright.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Wright 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 Wright.
The city of Wright in Okaloosa County has a population of 23,965. The median rent in Okaloosa County for a 2 bedroom is $1,258. The median Wright resident is 35 years old with a yearly income of $27,578. The average family has 2.98 members and a median household income of $51,349. Wright has a 25% higher education rate. The unemployment rate in Wright is 3.5%.
54.8% of Wright households are renters.
31.4% median household income spent on rent.
Bedrooms |
Okaloosa County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,052 | $822 | $737 |
| 1 bedroom | $1,058 | $891 | $813 |
| 2 bedroom | $1,258 | $1,089 | $1,015 |
| 3 bedroom | $1,679 | $1,448 | $1,325 |
| 4 bedroom | $2,178 | $1,716 | $1,521 |
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