Florida Apartment Loan Rates
| FL Apartment Loan Rates Less Than $6 Million | Free Loan Quote | ||
|---|---|---|---|
| Loan Type | Rate* | LTV | |
| Apartment Loan 5 Yr Fixed | 5.70% | Up to 80% | |
| Apartment Loan 7 Yr Fixed | 5.74% | Up to 80% | |
| Apartment Loan 10 Yr Fixed | 5.80% | Up to 80% | |
*Rates start as low as the rates stated here. Your rate, LTV, and amortization will be determined by underwriting.
Want a personalized quote? Click here to request a customized loan quote for your Florida apartment property.
Need a multifamily loan over $6 million? Visit our Florida multifamily loan page. For other commercial property types, explore our Florida commercial mortgage options. To compare all rates nationwide, see commercial mortgage rates.
2026 Florida Apartment Loan Market Overview
Entering 2026, Florida remains one of the most active apartment markets in the country. For borrowers evaluating apartment loans, the state continues to benefit from strong in-migration, elevated barriers to homeownership, and persistent renter demand across its major metros. While development activity has been elevated over the past several years, supply is beginning to normalize, allowing apartment building financing to be structured around improving fundamentals in many markets.
Fort Lauderdale Remains a Core Anchor for Florida Apartment Loans
Fort Lauderdale continues to set the tone for much of the state's apartment activity. In 2026, the metro is projected to grow employment by 0.7%, deliver roughly 3,300 units, post vacancy near 4.9%, and finish the year with average effective rent around $2,530 per month. For borrowers seeking an apartment building loan, Fort Lauderdale offers a combination of strong rent levels and relatively stable vacancy compared to many Sun Belt markets.
West Palm Beach Adds High-Income Demand and Limited Supply Pressure
West Palm Beach provides another key South Florida reference point. The 2026 outlook calls for approximately 6,000 jobs added, roughly 2,200 units delivered, vacancy near 4.9%, and average effective rent around $2,575 per month. This profile continues to support apartment lenders looking for markets where strong household income and limited home affordability reinforce apartment demand.
Tampa-St. Petersburg Adds Scale and Improving Supply Balance
Tampa-St. Petersburg adds a broader growth component to the Florida apartment market. In 2026, the metro is projected to add about 6,000 jobs, deliver roughly 5,300 units, maintain vacancy near 5.4%, and reach average effective rent around $1,875 per month. For apartment loans, Tampa represents a large-scale market where supply is moderating and demand remains strong.
Rent Levels Remain Elevated Across Florida Markets
Florida continues to offer a wide but elevated rent range across major metros. Fort Lauderdale is projected near $2,530 per month, West Palm Beach near $2,575 per month, and Tampa near $1,875 per month. This range allows borrowers to structure apartment building financing strategies based on either high-income coastal markets or larger, more moderate-growth metros.
2026 Florida Apartment Loan Market Forecast
- Employment: Fort Lauderdale +0.7%, West Palm Beach +6,000 jobs, Tampa +6,000 jobs.
- Construction: Fort Lauderdale ~3,300 units, West Palm Beach ~2,200 units, Tampa ~5,300 units.
- Vacancy: ~4.9% South Florida, ~5.4% Tampa.
- Rent: ~$2,530 Fort Lauderdale, ~$2,575 West Palm Beach, ~$1,875 Tampa.
For investors comparing apartment loans in Florida, 2026 reflects a multi-market landscape. South Florida offers strong pricing and stable demand, while Tampa provides scale and improving supply-demand balance. Together, these markets provide multiple avenues for structuring apartment investments.
2026 Fort Lauderdale Florida Apartment Loan Market Overview
Fort Lauderdale is one of the most established apartment markets in Florida for apartment loans. The city has a population of approximately 190,641 residents with the broader metro area forming one of the most active rental corridors in the state. There are approximately 37,195 renter-occupied households in Fort Lauderdale, representing 46% of all occupied housing units as of March 2026. Current data points to metro-wide vacancy at approximately 7.6% as of Q3 2025, an average apartment rent of $2,805 per month as of March 23, 2026, and rents that remain more than 34% above the U.S. average despite a period of supply-driven moderation. Fort Lauderdale continues to rank among the strongest markets for Florida apartment loans based on income-driven demand and high homeownership cost barriers.
Apartment Loan Rates and Financing Conditions in Fort Lauderdale
Financing remains active for apartment building loans in Florida, particularly in Fort Lauderdale for stabilized assets with strong occupancy history and Class B and C workforce housing where vacancy has held below 7% throughout the current supply cycle. Cap rates rose to approximately 5.6% as of Q3 2025, reflecting a more favorable acquisition environment for buyers than at recent cycle peaks. The median home value in Fort Lauderdale is approximately $627,850, creating significant homeownership barriers that anchor a large share of the workforce as long-term renters. For borrowers seeking an apartment building loan in Fort Lauderdale, underwriting centers on submarket selection, asset class, and managing the gap between Class A luxury concessions and the tighter mid-tier segment.
Key Market Trends Driving Apartment Demand in Fort Lauderdale
Fort Lauderdale continues to benefit from high-income renter demand, limited homeownership affordability, and household income growth of more than 25% since 2020. The metro's economy is supported by finance, professional services, and information-sector jobs, with unemployment holding below 4% through 2025. The current supply cycle has concentrated pressure in the Class A luxury segment, with luxury vacancy reaching approximately 9.2% as of Q1 2025, while Class B and C vacancy has held considerably tighter. Renters holding bachelor's degrees or higher make up approximately 38% of the Fort Lauderdale renter population, supporting a high-income tenant base that benefits Florida apartment lenders evaluating long-term hold opportunities in this market.
Average Rent Levels and Unit Pricing in Fort Lauderdale in 2026
As of March 23, 2026, the average apartment rent in Fort Lauderdale is $2,805 per month, up 0.74% from $2,784 the prior year. By unit type: studios average $2,123/month, one-bedrooms average $2,409/month, two-bedrooms average $3,015/month, and three-bedrooms average $3,913/month. Approximately 32% of all Fort Lauderdale rentals are priced above $3,000 per month, with Downtown Fort Lauderdale commanding the highest rents in the city at approximately $4,114/month. These rent levels, which remain well above the national average, support underwriting for apartment loans on stabilized assets throughout the South Florida corridor.
Fort Lauderdale Apartment Supply, Demand, and Vacancy in 2026
Fort Lauderdale had approximately 8,760 units under construction as of Q3 2025, mostly Class A luxury concentrated near I-95 and Las Olas Boulevard, driving metro-wide vacancy to approximately 7.6%. Demand has rebounded to average over 1,000 units of absorption per quarter since late 2023, demonstrating the underlying strength of renter demand in the market. Lower-rent submarkets including Oakland Park, Lauderhill, Hollywood, and Pompano Beach are posting some of the strongest annual rent gains in the metro as renters shift toward more cost-effective options. For borrowers pursuing apartment building financing in Florida, Fort Lauderdale's stabilized workforce housing segment offers one of the most consistent supply-demand profiles in the state.
Apartment Investment Opportunities in Fort Lauderdale in 2026
Investors pursuing apartment loans in Fort Lauderdale in 2026 are focusing on long-term holds in supply-constrained workforce housing submarkets, value-add acquisitions in the 1960s and 1970s vintage stock that represents approximately 38% of the city's rental inventory, and income-producing properties where high homeownership barriers support durable renter demand. Annual apartment sales totaled approximately $1.8 billion through Q3 2025, with multiple $100 million-plus trades confirming active institutional appetite. For Florida apartment lenders evaluating South Florida opportunities, Fort Lauderdale offers a premium rent profile, a highly educated renter base, and a long-term demand foundation that supports strong performance for apartment building loans across the metro.
2026 West Palm Beach Florida Apartment Loan Market Overview
West Palm Beach supports strong apartment fundamentals and is one of the most balanced rental markets in Florida for apartment loans. The city has a population of approximately 119,508 residents with a median household income of approximately $73,446. There are approximately 25,153 renter-occupied households in West Palm Beach, representing exactly 50% of all occupied housing units as of February 2026, one of the most evenly split owner-renter ratios among major Florida apartment loan markets. Current data points to an average apartment rent of $2,391 per month as of February 21, 2026, rents approximately 16% above the national average, and a median home value of approximately $369,800 that continues to keep a large share of the workforce in the rental market.
Apartment Loan Rates and Financing Conditions in West Palm Beach
Financing conditions for Florida apartment loans remain active in West Palm Beach in 2026, with lenders favoring stabilized properties with consistent rent performance and assets in supply-constrained submarkets away from the heaviest new construction corridors. The city's median home value of approximately $369,800, combined with elevated insurance and carrying costs, continues to price a meaningful share of households out of ownership and into the rental market. Rents rose 0.51% year-over-year as of February 2026, reflecting a market that is stabilizing rather than softening. For borrowers seeking an apartment building loan in West Palm Beach, the balanced owner-renter split and high-income renter demographic support a stable underwriting environment across asset classes.
Key Market Trends Driving Apartment Demand in West Palm Beach
West Palm Beach continues to attract capital due to strong demographics, proximity to Palm Beach's wealth corridor, and consistent in-migration from higher-cost Northeast and Midwest markets. The city's economy is supported by finance, healthcare, legal services, and a growing technology sector, with Palm Beach County serving as a hub for high-net-worth relocators. Renters in the 25 to 34 age group make up the largest share of the renter pool at 27%, followed by the 35 to 44 age group at 21%. Renters holding bachelor's degrees or higher make up approximately 34% of the renter population. These demographics continue to attract Florida apartment lenders evaluating Palm Beach County opportunities for long-term income and appreciation.
Average Rent Levels and Unit Pricing in West Palm Beach in 2026
As of February 21, 2026, the average apartment rent in West Palm Beach is $2,391 per month, up 0.51% from $2,378 the prior year. By unit type: studios average $2,180/month, one-bedrooms average $2,130/month, two-bedrooms average $2,503/month, and three-bedrooms average $3,109/month. Approximately 36% of all West Palm Beach rentals are priced between $1,501 and $2,000 per month, reflecting a rental base that spans workforce and mid-market tiers. Downtown West Palm Beach commands the highest rents in the city at approximately $3,795/month. These rent levels support underwriting for apartment loans across a range of asset classes throughout the South Florida corridor.
West Palm Beach Apartment Supply, Demand, and Vacancy in 2026
West Palm Beach benefits from a more moderate supply pipeline than neighboring Fort Lauderdale and Miami, providing a more controlled supply-demand environment for borrowers seeking Florida apartment building financing. Two-bedroom units make up the largest share of the rental inventory at approximately 45% of all units, the highest two-bedroom concentration among the state's major coastal markets, reflecting the city's family and professional household demographic. Approximately 47% of all West Palm Beach rentals are family households, with 25% including children under 18, supporting longer tenancies and consistent renewal activity that strengthens lender confidence on stabilized assets.
Apartment Investment Opportunities in West Palm Beach in 2026
Investors pursuing apartment loans in West Palm Beach in 2026 are focused on long-term appreciation, income-producing properties with stable cash flow, and value-add acquisitions in the city's 1970s through 2000s vintage stock that represents approximately 50% of total rental inventory. The Flagler-Waterfront District, Pineapple Park, and Prospect Heights submarkets are among the most active for investor activity, combining walkable urban appeal with consistent renter demand. For Florida apartment lenders evaluating the Palm Beach County market, West Palm Beach offers a premium rent profile, a balanced renter base, and long-term demand fundamentals driven by continued in-migration and homeownership cost barriers that support strong performance for apartment building loans across the metro.
2026 Tampa Florida Apartment Loan Market Overview
Tampa is Florida's third-largest city and one of the most active growth markets in the state for apartment loans. The city has a population of approximately 427,538 residents as of 2026, growing at approximately 1.54% annually, with a median household income of approximately $75,475. There are approximately 79,930 renter-occupied households in Tampa, representing 50% of all occupied housing units as of March 2026. Current data points to metro-wide vacancy at approximately 10.3% as of Q3 2025, an average apartment rent of $2,011 per month as of March 23, 2026, and only approximately 3,500 units projected for delivery in 2026, a sharp pullback from the record 12,500 units delivered in 2024. Tampa remains one of the strongest long-term markets for Florida apartment loans as supply pressures ease significantly heading into the back half of 2026.
Apartment Loan Rates and Financing Conditions in Tampa
Financing conditions for Florida apartment loans remain active in Tampa in 2026, particularly for stabilized assets and properties in submarkets with lower new construction exposure. Tampa's construction pipeline contracted sharply from approximately 12,500 deliveries in 2024 to just approximately 3,500 projected in 2026, signaling meaningful supply relief that should support vacancy improvement through the year. The median home value in Tampa is approximately $376,278 as of early 2026, down 4.2% year-over-year but still elevated enough to keep a large share of the workforce in the rental market. For borrowers seeking an apartment building loan in Tampa, the improving supply-demand trajectory and moderating rental concessions support a constructive underwriting environment across asset classes.
Key Market Trends Driving Apartment Demand in Tampa
Tampa continues to benefit from strong population growth, infrastructure investment, and a diversifying economy anchored by healthcare, finance, technology, and professional services. The metro absorbed nearly 9,400 units in 2024, setting a new regional record and demonstrating that renter demand remains robust even during periods of peak supply. Net absorption is forecast to remain healthy in 2026, with approximately 6,000 units expected to be absorbed over the year, surpassing Tampa's 10-year average. Renters in the 25 to 34 age group make up the largest share of Tampa's renter pool at 31%, providing a strong long-term demand base. These dynamics continue to attract Florida apartment lenders evaluating large-market growth opportunities in the state.
Average Rent Levels and Unit Pricing in Tampa in 2026
As of March 23, 2026, the average apartment rent in Tampa is $2,011 per month, down 1.68% from $2,045 the prior year. By unit type: studios average $1,459/month, one-bedrooms average $1,722/month, two-bedrooms average $2,080/month, and three-bedrooms average $2,630/month. Approximately 33% of all Tampa rentals are priced between $1,501 and $2,000 per month, with the 2026 HUD Fair Market Rent placing the median two-bedroom at approximately $1,977/month. The Uptown Tampa submarket commands the highest rents in the city at approximately $3,261/month. These rent levels support underwriting for apartment loans on stabilized assets where the improving supply outlook supports a recovery in effective rents through 2026 and 2027.
Tampa Apartment Supply, Demand, and Vacancy in 2026
Tampa's apartment market is transitioning from a historic supply wave into a recovery phase. After delivering a record approximately 12,500 units in 2024, deliveries are projected to fall sharply to approximately 3,500 units in 2026, reducing competitive pressure on stabilized assets. Metro-wide vacancy stood at approximately 10.3% as of Q3 2025, with Pasco County and Southeast Hillsborough carrying the highest concentration of new supply. Two-bedroom units make up the largest share of the rental inventory at approximately 38% of all units. For borrowers pursuing apartment building financing in Florida, Tampa's sharply contracting pipeline and above-average absorption rate position the market for meaningful occupancy and rent improvement through 2026 and 2027.
Apartment Investment Opportunities in Tampa in 2026
Investors pursuing apartment loans in Tampa in 2026 are targeting stabilized growth corridor assets, value-add acquisitions at adjusted pricing in oversupplied submarkets, and workforce housing properties where Class B and C vacancy is tighter than the broader market average. The city's 10.03% population increase since 2020 and continued annual growth of approximately 1.54% provide a strong long-term demand foundation. Renters holding bachelor's degrees or higher make up approximately 38% of the Tampa renter population, reflecting an educated, professionally employed tenant base. For Florida apartment lenders evaluating large-market growth opportunities, Tampa's contracting supply pipeline, record absorption history, and sustained population growth make it one of the most compelling recovery stories for apartment building loans in the state heading into 2027.
Why Choose Select Commercial for Apartment Loans
What sets Select Commercial apart from traditional lenders and large banks? In this short video, we highlight the key reasons apartment building investors choose to work with us for Florida apartment loans between $1.5 million and $6 million. We also actively finance multifamily loans exceeding $6 million.
Here’s what the video touches on:
- No upfront application or processing fees
- Fast written pre-approvals often within 24 hours
- Access to a wide range of apartment lenders, not just one bank
- Loan structures tailored to your property and investment goals
Apartment Property Types We Finance in Florida
At Select Commercial, we arrange financing for a wide range of Florida apartment buildings, from smaller 5+ unit walkups to large portfolios of rental properties. Whether your property is urban, suburban, or mixed-use, we can help you secure the right loan structure based on your investment goals.
- Urban mid-rise and high-rise apartment buildings
- Suburban garden-style apartment complexes
- Small apartment buildings with 5+ units
- Mixed-use properties with residential and limited commercial space
- Underlying co-op apartment building loans
- Portfolios of small apartment or single-family rental properties
- Stabilized buildings with strong cash flow and rent history
If you're not sure whether your property qualifies, contact us for a free quote and we'll review your deal and let you know within 24 hours.
Recent Apartment Loan Closings
Why Florida Borrowers Choose Select Commercial
Thousands of apartment building investors trust Select Commercial for our direct, transparent approach and proven expertise in the Florida apartment loan market. We're not just brokers, we provide personalized service, fast answers, and access to top institutional lenders without the bureaucracy of traditional banks.
- Over 30 years of apartment loan experience with a national platform
- No upfront fees and fast pre-approvals, often within 24 hours
- Direct access to top lenders offering aggressive terms
- Dedicated support from quote to closing
Want to see why so many clients return to us for their next deal? Start with a free quote – we'll review your scenario and respond quickly.
Our Reviews
Latest Expert Insights from Stephen A. Sobin
Stephen A. Sobin, the president of Select Commercial Funding LLC, is a renowned expert in the field of multifamily financing. His insights and perspectives are regularly sought by leading industry publications. Here are his latest contributions that highlight his deep understanding of the multifamily financing landscape and his commitment to providing clear, insightful analysis on key industry issues.
Navigating Opportunity, Risk as 2025 Winds Down
In an article for Commercial Property Executive titled "Navigating Opportunity, Risk as 2025 Winds Down", Sobin explains as we head into the final stretch of 2025, the commercial real estate industry stands at a pivotal moment. After several years of upheaval—from pandemic disruptions to aggressive Federal Reserve rate hikes and lasting shifts in how people live and work—the sector is entering a new phase.
Why Lower Rates Haven't Fixed Commercial Real Estate
In an article for Wealth Management titled "Why Lower Rates Haven't Fixed Commercial Real Estate", Sobin explains that even as the Federal Reserve has begun cutting rates and borrowing costs should be falling, the commercial real estate sector remains locked in a frustrating stalemate. For high-net-worth investors trying to time the market, he emphasizes that understanding this disconnect requires looking beyond the headlines.
Why the Fed Rate Cut’s a Game Changer for CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that after months of speculation and market anticipation, the Federal Reserve finally pulled the trigger last week, cutting the federal funds rate by 25 basis points to 4.00 to 4.25 percent. read the full article.
Inflation's Current Impact on Apartment
In an article featured in Multi-Housing News, Sobin explains how commercial mortgage rates continue to challenge investors, with elevated inflation depressing real estate market activity. Read the full article.
Will the July Jobs Report Pressure the Fed to Act?
Sobin noted in Multi-Housing News that unemployment hit a three-year high and job creation slowed significantly, factors that could push the Fed to reconsider future rate hikes. Read the full article.
Persistent Inflation and Its Effects on CRE
In an article featured in Multi-Housing News, Stephen Sobin highlighted that while inflation is still a challenge for the Federal Reserve, there are many positive signs for the commercial real estate industry. The headline Consumer Price Index rose 3.2 percent for the year ended Feb. 29, a figure 20 basis points lower than the Dec. 31, 2023, rate. read the full article.
Commercial Spotlight: Mid-Atlantic Region In this four-state powerhouse, smaller metros are thriving.
In a feature in Scotsman Guide, the Mid-Atlantic Region's real estate dynamics are explored, highlighting its resilience and growth amidst the pandemic.
Stephen Sobin of Select Commercial Funding LLC shared insights on the New York market's allure and the challenges buyers face. He noted the shift from primary urban areas to tertiary markets due to evolving preferences and financial conditions. For a deeper dive into Sobin's analysis, read the full article.
What the New Jobs Report Means for CRE
In an article titled "What the New Jobs Report Means for CRE" in Commercial Property Executive, Stephen Sobin shared his perspective on the latest jobs report and its implications for the Commercial Real Estate (CRE) sector. He highlighted the challenges posed by high interest rates and the prevailing uncertainty in the market. Sobin remarked, "Sellers aren’t selling, buyers aren’t buying... Everyone is waiting because no one knows what to expect." For a detailed analysis and more of Sobin's insights, read the full article.
Decoding "Junk Fees" in Rental Housing
In another latest contribution to Multi-Housing News, Sobin provided expert commentary in an article titled "What's Next for Junk Fees? The Industry Weighs In". He clarified the difference between legitimate fees collected for various third-party services and so-called "junk fees". Sobin emphasized the importance of borrowers understanding their rights in negotiating all loan terms and the obligation of lenders to disclose all fees.
Understanding the Impact of Federal Reserve's Decisions
In a recent article titled "How the Fed's Pause on Interest Rates Impacts Multifamily" published by Multi-Housing News, Sobin shared his expert insights on the Federal Reserve's decision to pause interest rate hikes. He accurately predicted that the Fed would not raise rates in June, citing recent bank failures and lingering concerns about a potential recession.
Stay tuned for more expert insights from Stephen A. Sobin on the evolving multifamily financing landscape.
Frequently Asked Questions About Florida Apartment Loans
Florida apartment loan rates vary depending on several factors such as loan-to-value ratio (LTV), property type, borrower experience, and market conditions. As of 2025, rates remain elevated due to ongoing inflation concerns, but borrowers with strong credit and high-quality assets can still find competitive pricing. Check our latest apartment loan rates for current updates.
Most lenders require a DSCR of at least 1.25, good borrower credit, net worth, liquidity, and experience. Loan-to-value ratios in 2025 typically range from 65% to 80%, due to elevated interest rates. Properties with strong occupancy and clean financials stand a better chance of qualifying.
Most lenders require 20% to 25% down for apartment loans in Florida. Your loan-to-value ratio will be subject to the property's debt service coverage ratio.
A qualified broker like Select Commercial can present your loan to many different capital sources, including banks, credit unions, CMBS, agency lenders, and private funds. This increases the odds of approval and helps you secure the most favorable terms available.
The process starts with gathering financials like a rent roll, trailing 12-month income and expense statement, borrower resume, and net worth statement. A mortgage broker will analyze your documents and match you with the best lending program. Start with a Free Quote today.
Absolutely. While this page focuses on apartment loans under $6 million, Select Commercial also arranges smaller balance loans for qualified borrowers. Visit our multifamily loan page for options over $6 million.
Agency Small Balance Apartment Loan Programs
Select Commercial connects borrowers with top-tier agency small balance loan programs in addition to bank and private capital options. Featured programs include:
- Fannie Mae® Small Loan Program – For apartment properties with 5+ units and loan sizes from $1 million to $6 million
- Freddie Mac® Small Balance Loan (SBL) Program – Streamlined financing solutions up to $6 million
- Loans Over $6 Million – Explore large-balance apartment loan programs in Florida
These agency-backed options offer competitive fixed rates, non-recourse terms, and simplified underwriting for qualified apartment investors.
Florida Apartment Building Financing
Select Commercial provides apartment building financing and Florida commercial mortgages throughout the state of Florida including but not limited to the areas below.