Fort Dodge is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Fort Dodge are considered greater risk due to market dynamics. Interest rates for multifamily loans in Fort Dodge are higher than the national average. Fort Dodge 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 Fort Dodge.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Fort Dodge are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Fort Dodge.
The city of Fort Dodge in Webster County has a population of 23,888. The median rent in Webster County for a 2 bedroom is $729. The median Fort Dodge resident is 36 years old with a yearly income of $23,500. The average family has 2.87 members and a median household income of $40,886. Fort Dodge has a 20% higher education rate. The unemployment rate in Fort Dodge is 4.9%.
39.2% of Fort Dodge households are renters.
27.8% median household income spent on rent.
Bedrooms |
Webster County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $550 | $558 | $737 |
| 1 bedroom | $553 | $613 | $813 |
| 2 bedroom | $729 | $785 | $1,015 |
| 3 bedroom | $1,002 | $1,038 | $1,325 |
| 4 bedroom | $1,006 | $1,151 | $1,521 |
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