Jacksonville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Jacksonville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Jacksonville are competitive. Jacksonville 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 Jacksonville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Jacksonville 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 Jacksonville.
The city of Jacksonville in Duval County has a population of 911,507. The median rent in Duval County for a 2 bedroom is $1,195. The median Jacksonville resident is 36 years old with a yearly income of $30,166. The average family has 3.22 members and a median household income of $54,701. Jacksonville has a 29% higher education rate. The unemployment rate in Jacksonville is 5.9%.
44% of Jacksonville households are renters.
31.9% median household income spent on rent.
Bedrooms |
Duval 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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