West Pensacola is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in West Pensacola are considered moderate risk due to market dynamics. Interest rates for multifamily loans in West Pensacola are slightly higher than the national average. West Pensacola 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 West Pensacola.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in West Pensacola 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 West Pensacola.
The city of West Pensacola in Escambia County has a population of 21,056. The median rent in Escambia County for a 2 bedroom is $1,059. The median West Pensacola resident is 37 years old with a yearly income of $21,820. The average family has 3.29 members and a median household income of $35,068. West Pensacola has a 12% higher education rate. The unemployment rate in West Pensacola is 11.0%.
53.4% of West Pensacola households are renters.
33.5% median household income spent on rent.
Bedrooms |
Escambia County 1 |
Florida 2 |
National 2 |
|---|---|---|---|
| Studio | $833 | $822 | $737 |
| 1 bedroom | $901 | $891 | $813 |
| 2 bedroom | $1,059 | $1,089 | $1,015 |
| 3 bedroom | $1,486 | $1,448 | $1,325 |
| 4 bedroom | $1,834 | $1,716 | $1,521 |
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