Coon Rapids is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Coon Rapids are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Coon Rapids are some of the lowest nationally. Coon Rapids apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Coon Rapids.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Coon Rapids 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.07% - 6.31% |
| 7 Year Fixed | 6.18% - 6.42% |
| 10 Year Fixed | 6.19% - 6.43% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.54% |
| 7 Year Fixed | 5.49% - 5.59% |
| 10 Year Fixed | 5.47% - 5.57% |
All major multifamily lender types are lending in Coon Rapids.
The city of Coon Rapids in Anoka County has a population of 62,998. The median rent in Anoka County for a 2 bedroom is $1,410. The median Coon Rapids resident is 39 years old with a yearly income of $36,354. The average family has 3.11 members and a median household income of $71,267. Coon Rapids has a 26% higher education rate. The unemployment rate in Coon Rapids is 4.0%.
25.5% of Coon Rapids households are renters.
32.3% median household income spent on rent.
Bedrooms |
Anoka County 1 |
Minnesota 2 |
National 2 |
|---|---|---|---|
| Studio | $968 | $607 | $737 |
| 1 bedroom | $1,136 | $694 | $813 |
| 2 bedroom | $1,410 | $881 | $1,015 |
| 3 bedroom | $1,982 | $1,200 | $1,325 |
| 4 bedroom | $2,324 | $1,366 | $1,521 |
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