Ocala is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Ocala are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Ocala are slightly higher than the national average. Ocala 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 Ocala.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Ocala 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 Ocala.
The city of Ocala in Marion County has a population of 60,786. The median rent in Marion County for a 2 bedroom is $1,003. The median Ocala resident is 38 years old with a yearly income of $25,274. The average family has 3.28 members and a median household income of $41,755. Ocala has a 24% higher education rate. The unemployment rate in Ocala is 8.1%.
53.9% of Ocala households are renters.
36.5% median household income spent on rent.
Bedrooms |
Marion County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $740 | $822 | $737 |
| 1 bedroom | $809 | $891 | $813 |
| 2 bedroom | $1,003 | $1,089 | $1,015 |
| 3 bedroom | $1,310 | $1,448 | $1,325 |
| 4 bedroom | $1,448 | $1,716 | $1,521 |
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