Aberdeen is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Aberdeen are considered greater risk due to market dynamics. Interest rates for multifamily loans in Aberdeen are higher than the national average. Aberdeen apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Aberdeen.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Aberdeen are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.71% - 7.45% |
| 7 Year Fixed | 6.66% - 7.17% |
| 10 Year Fixed | 6.64% - 7.04% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.68% - 6.92% |
| 7 Year Fixed | 6.44% - 6.68% |
| 10 Year Fixed | 6.38% - 6.62% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.51% - 7.25% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.44% - 6.84% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.89% - 5.99% |
| 7 Year Fixed | 5.94% - 6.04% |
| 10 Year Fixed | 5.92% - 6.02% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Aberdeen.
The city of Aberdeen in Brown County has a population of 28,257. The median rent in Brown County for a 2 bedroom is $830. The median Aberdeen resident is 36 years old with a yearly income of $30,640. The average family has 2.96 members and a median household income of $52,651. Aberdeen has a 29% higher education rate. The unemployment rate in Aberdeen is 3.1%.
43.3% of Aberdeen households are renters.
24% median household income spent on rent.
Bedrooms |
Brown County 1 |
South Dakota 2 |
National 2 |
|---|---|---|---|
| Studio | $581 | $539 | $737 |
| 1 bedroom | $630 | $599 | $813 |
| 2 bedroom | $830 | $770 | $1,015 |
| 3 bedroom | $1,188 | $1,019 | $1,325 |
| 4 bedroom | $1,207 | $1,196 | $1,521 |
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