Tallahassee is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Tallahassee are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Tallahassee are slightly higher than the national average. Tallahassee 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 Tallahassee.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Tallahassee 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 Tallahassee.
The city of Tallahassee in Leon County has a population of 194,500. The median rent in Leon County for a 2 bedroom is $1,084. The median Tallahassee resident is 27 years old with a yearly income of $24,348. The average family has 3.06 members and a median household income of $45,734. Tallahassee has a 48% higher education rate. The unemployment rate in Tallahassee is 8.0%.
60% of Tallahassee households are renters.
38.7% median household income spent on rent.
Bedrooms |
Leon County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $823 | $822 | $737 |
| 1 bedroom | $892 | $891 | $813 |
| 2 bedroom | $1,084 | $1,089 | $1,015 |
| 3 bedroom | $1,441 | $1,448 | $1,325 |
| 4 bedroom | $1,571 | $1,716 | $1,521 |
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