Edgewater is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Edgewater are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Edgewater are slightly higher than the national average. Edgewater 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 Edgewater.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Edgewater 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 Edgewater.
The city of Edgewater in Volusia County has a population of 23,918. The median rent in Volusia County for a 2 bedroom is $1,110. The median Edgewater resident is 51 years old with a yearly income of $26,903. The average family has 2.99 members and a median household income of $49,878. Edgewater has a 15% higher education rate. The unemployment rate in Edgewater is 4.2%.
20.6% of Edgewater households are renters.
30.6% median household income spent on rent.
Bedrooms |
Volusia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $732 | $822 | $737 |
| 1 bedroom | $905 | $891 | $813 |
| 2 bedroom | $1,110 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,624 | $1,716 | $1,521 |
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