Boca Raton is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Boca Raton are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Boca Raton are some of the lowest nationally. Boca Raton 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 Boca Raton.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Boca Raton are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $7.5M |
|---|---|
| 5 Year Fixed | 5.22% - 5.46% |
| 7 Year Fixed | 5.28% - 5.52% |
| 10 Year Fixed | 5.19% - 5.43% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Boca Raton.
The city of Boca Raton in Palm Beach County has a population of 99,805. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median Boca Raton resident is 49 years old with a yearly income of $41,368. The average family has 3.01 members and a median household income of $83,114. Boca Raton has a 55% higher education rate. The unemployment rate in Boca Raton is 5.0%.
28.8% of Boca Raton households are renters.
39.2% median household income spent on rent.
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 |
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