Immokalee is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Immokalee are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Immokalee are slightly higher than the national average. Immokalee 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 Immokalee.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Immokalee 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 Immokalee.
The city of Immokalee in Collier County has a population of 26,597. The median rent in Collier County for a 2 bedroom is $1,472. The median Immokalee resident is 29 years old with a yearly income of $17,203. The average family has 4.57 members and a median household income of $30,885. Immokalee has a 5% higher education rate. The unemployment rate in Immokalee is 10.6%.
62.2% of Immokalee households are renters.
34.6% median household income spent on rent.
Bedrooms |
Collier County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,014 | $822 | $737 |
| 1 bedroom | $1,196 | $891 | $813 |
| 2 bedroom | $1,472 | $1,089 | $1,015 |
| 3 bedroom | $1,916 | $1,448 | $1,325 |
| 4 bedroom | $2,056 | $1,716 | $1,521 |
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