Fort Pierce is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Fort Pierce are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Fort Pierce are slightly higher than the national average. Fort Pierce 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 Fort Pierce.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Pierce 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 Fort Pierce.
The city of Fort Pierce in St. Lucie County has a population of 46,103. The median rent in St. Lucie County for a 2 bedroom is $1,298. The median Fort Pierce resident is 38 years old with a yearly income of $21,095. The average family has 3.49 members and a median household income of $35,198. Fort Pierce has a 16% higher education rate. The unemployment rate in Fort Pierce is 7.0%.
53.9% of Fort Pierce households are renters.
41.6% median household income spent on rent.
Bedrooms |
St. Lucie County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $993 | $822 | $737 |
| 1 bedroom | $999 | $891 | $813 |
| 2 bedroom | $1,298 | $1,089 | $1,015 |
| 3 bedroom | $1,735 | $1,448 | $1,325 |
| 4 bedroom | $1,962 | $1,716 | $1,521 |
We're here to help.