Estero is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Estero are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Estero are slightly higher than the national average. Estero 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 Estero.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Estero 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 Estero.
The city of Estero in Lee County has a population of 33,871. The median rent in Lee County for a 2 bedroom is $1,282. The median Estero resident is 64 years old with a yearly income of $39,302. The average family has 2.53 members and a median household income of $82,054. Estero has a 48% higher education rate. The unemployment rate in Estero is 4.4%.
13.9% of Estero 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 |
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