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Multifamily Loans in
Aberdeen, SD

Overview

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.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Loan Rates in Aberdeen, SD

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Aberdeen are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.13% - 3.38%
7 Year Fixed 3.29% - 3.74%
10 Year Fixed 3.35% - 3.75%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/03/2021. This is not an offer or commitment to lend. Multifamily loan rates in Aberdeen may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 04, 2021


Multifamily Lenders in Aberdeen, SD

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Aberdeen.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 04, 2021


Aberdeen Market

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%.


Population
28,257 people

County
Brown County

Renters

43.3% of Aberdeen households are renters.


Rent Burden

24% median household income spent on rent.

Source: U.S. Census Bureau

Rents

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
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Aberdeen Demographics


Median Individual Income
$30,640 / year

Median Household Income
$52,651 / year

Families w/ Dual Incomes
61%

Unemployment Rate
3.1%
Household Income Distribution
Aberdeen, SD

Median Age
36 years

Avg Family Size
2.96 people
Age Distribution
Aberdeen, SD

College Education or Above
29%

STEM College Graduates
30%
Education Distribution
Aberdeen, SD
Source: U.S. Census Bureau

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