Miami Lakes is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Miami Lakes are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Miami Lakes are some of the lowest nationally. Miami Lakes 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 Miami Lakes.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Miami Lakes 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 Miami Lakes.
The city of Miami Lakes in Miami-Dade County has a population of 31,367. The median rent in Miami-Dade County for a 2 bedroom is $1,684. The median Miami Lakes resident is 41 years old with a yearly income of $35,939. The average family has 3.49 members and a median household income of $75,762. Miami Lakes has a 39% higher education rate. The unemployment rate in Miami Lakes is 2.8%.
34.9% of Miami Lakes households are renters.
32% median household income spent on rent.
Bedrooms |
Miami-Dade County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $1,148 | $822 | $737 |
| 1 bedroom | $1,336 | $891 | $813 |
| 2 bedroom | $1,684 | $1,089 | $1,015 |
| 3 bedroom | $2,245 | $1,448 | $1,325 |
| 4 bedroom | $2,696 | $1,716 | $1,521 |
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