Lake Worth is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Lake Worth are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Lake Worth are some of the lowest nationally. Lake Worth 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 Lake Worth.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lake Worth 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 | 5.22% - 5.46% |
| 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 | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Lake Worth.
The city of Lake Worth in Palm Beach County has a population of 38,526. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median Lake Worth resident is 37 years old with a yearly income of $22,462. The average family has 3.71 members and a median household income of $42,500. Lake Worth has a 19% higher education rate. The unemployment rate in Lake Worth is 6.5%.
55.7% of Lake Worth households are renters.
41.1% median household income spent on rent.
Bedrooms |
Palm Beach County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,065 | $822 | $737 |
| 1 bedroom | $1,278 | $891 | $813 |
| 2 bedroom | $1,590 | $1,089 | $1,015 |
| 3 bedroom | $2,149 | $1,448 | $1,325 |
| 4 bedroom | $2,585 | $1,716 | $1,521 |
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