West Palm Beach is located in a strong market for 5+ unit multifamily loans. Multifamily loans in West Palm Beach are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in West Palm Beach are some of the lowest nationally. West Palm Beach 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 West Palm Beach.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Palm Beach 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 West Palm Beach.
The city of West Palm Beach in Palm Beach County has a population of 111,955. The median rent in Palm Beach County for a 2 bedroom is $1,590. The median West Palm Beach resident is 40 years old with a yearly income of $28,172. The average family has 3.43 members and a median household income of $54,334. West Palm Beach has a 34% higher education rate. The unemployment rate in West Palm Beach is 7.7%.
51.2% of West Palm Beach households are renters.
36.4% 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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