Port Charlotte is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Port Charlotte are considered greater risk due to market dynamics. Interest rates for multifamily loans in Port Charlotte are higher than the national average. Port Charlotte apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Port Charlotte.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Port Charlotte 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 | 5.58% - 5.82% |
| 7 Year Fixed | 5.37% - 5.61% |
| 10 Year Fixed | 5.23% - 5.47% |
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 | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Port Charlotte.
The city of Port Charlotte in Charlotte County has a population of 62,327. The median rent in Charlotte County for a 2 bedroom is $1,131. The median Port Charlotte resident is 53 years old with a yearly income of $24,678. The average family has 3.12 members and a median household income of $46,603. Port Charlotte has a 19% higher education rate. The unemployment rate in Port Charlotte is 6.2%.
24.2% of Port Charlotte households are renters.
36.5% median household income spent on rent.
Bedrooms |
Charlotte County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $847 | $822 | $737 |
| 1 bedroom | $918 | $891 | $813 |
| 2 bedroom | $1,131 | $1,089 | $1,015 |
| 3 bedroom | $1,597 | $1,448 | $1,325 |
| 4 bedroom | $1,958 | $1,716 | $1,521 |
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