Commercial real estate lending in St. Augustine (St. Johns County), FL
St. Johns County is home to 292,243 residents with a median household income of $106,169 and 24.1% population growth over five years. Commercial deals here are underwritten to Florida's typical standards — around 1.25x DSCR and 75% maximum LTV on stabilized assets — with pricing shaped by the county fundamentals below.
Market character
St. Augustine pairs the nation's oldest city's tourism draw with some of Northeast Florida's fastest-growing suburban development around World Golf Village and the US-1 corridor. Land prices and household incomes run well above the regional norm, drawing institutional multifamily capital that used to stop at the Duval County line.
St. Augustine by the numbers
| Population | 292,243 |
| 5-year population change | +24.1% |
| Median household income | $106,169 |
| Median age | 44 |
| Median home value | $457,600 |
| Median gross rent | $1,775/mo |
| Housing units | 127,144 |
| Renter-occupied share | 17.9% |
Source: U.S. Census Bureau, ACS 5-year estimates (2023).
Underwriting a St. Augustine deal
A St. Augustine property clears the same four constraints as any Florida deal — 1.25x minimum DSCR and 75% maximum LTV on stabilized assets, an 8% debt-yield floor, and loan-to-cost caps on construction — with benchmark cap rates for FL spanning roughly 5.5% (multifamily) to 7.5% (hotel). The full state-by-asset-class table lives on the benchmarks page; run St. Augustine numbers through the loan sizer to see which constraint binds.
Florida closing costs to budget
Financing in St. Johns County carries Florida's documentary stamp tax and intangible tax — about 0.55% of the loan, due in full on every refinance. Insurance is the other Florida-specific line: wind and flood premiums increasingly decide whether a coastal deal's DSCR clears. Estimate a St. Augustine deal with the closing cost calculator or read the doc stamps guide.
Financing a property in St. Augustine?
Relendi analyzes your deal against real underwriting criteria — DSCR, LTV, debt yield, and market benchmarks — in minutes.
Analyze my deal freeFrequently asked questions
What DSCR do lenders require in St. Johns County?
In St. Augustine — a market of 292,243 residents where median gross rent runs $1,775 a month — lenders apply Florida's usual floors: typically 1.25x DSCR stabilized, 1.20x on acquisitions, 1.10x on bridge or construction. The county changes which lenders compete for the deal more than it changes the ratio.
What are typical commercial cap rates in St. Augustine?
Statewide Florida benchmarks run roughly 5.5% for multifamily up to 7.5% for hotels; where St. Augustine deals price inside those bands depends on submarket, asset quality, and tenancy — in a county whose median home value is $457,600, residential-adjacent product tends to price at the tighter end. Individual comps set real pricing.