Cape Coral is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Cape Coral are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Cape Coral are slightly higher than the national average. Cape Coral 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 Cape Coral.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Cape Coral 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 $6M |
|---|---|
| 5 Year Fixed | 5.53% - 5.77% |
| 7 Year Fixed | 5.27% - 5.51% |
| 10 Year Fixed | 5.13% - 5.37% |
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® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.65% - 5.80% |
| 7 Year Fixed | 5.66% - 5.81% |
| 10 Year Fixed | 5.66% - 5.81% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Cape Coral.
The city of Cape Coral in Lee County has a population of 194,495. The median rent in Lee County for a 2 bedroom is $1,282. The median Cape Coral resident is 47 years old with a yearly income of $30,000. The average family has 3.31 members and a median household income of $61,599. Cape Coral has a 23% higher education rate. The unemployment rate in Cape Coral is 6.0%.
25.5% of Cape Coral households are renters.
30.6% median household income spent on rent.
Bedrooms |
Lee County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $997 | $822 | $737 |
| 1 bedroom | $1,019 | $891 | $813 |
| 2 bedroom | $1,282 | $1,089 | $1,015 |
| 3 bedroom | $1,670 | $1,448 | $1,325 |
| 4 bedroom | $1,887 | $1,716 | $1,521 |
We're here to help.