Fleming Island is located in a good market for 5+ unit multifamily loans. Multifamily loans in Fleming Island are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Fleming Island are competitive. Fleming Island 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 Fleming Island.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fleming Island 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 | 5.44% - 5.68% |
| 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 | 5.60% - 5.75% |
| 7 Year Fixed | 5.61% - 5.76% |
| 10 Year Fixed | 5.61% - 5.76% |
All major multifamily lender types are lending in Fleming Island.
The city of Fleming Island in Clay County has a population of 28,676. The median rent in Clay County for a 2 bedroom is $1,195. The median Fleming Island resident is 43 years old with a yearly income of $42,439. The average family has 3.14 members and a median household income of $94,154. Fleming Island has a 44% higher education rate. The unemployment rate in Fleming Island is 6.1%.
18.5% of Fleming Island households are renters.
29% median household income spent on rent.
Bedrooms |
Clay County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $801 | $822 | $737 |
| 1 bedroom | $989 | $891 | $813 |
| 2 bedroom | $1,195 | $1,089 | $1,015 |
| 3 bedroom | $1,562 | $1,448 | $1,325 |
| 4 bedroom | $1,989 | $1,716 | $1,521 |
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