276,088 (or 8.75%) of the 3,155,070 population of Iowa live in 5+ unit apartment properties. Iowa has approximately 184,860 multifamily units. Last year, 3,303 new apartment units were constructed in Iowa, representing a 1.82% growth in units. Multifamily units make up 13.81% of the total housing stock in Iowa.
Interest rates for multifamily loans in Iowa are very competitive. Iowa apartments are eligible for non-recourse multifamily loans with long term fixed rates and other favorable terms. SoftQuotes' lenders are actively lending on 5+ unit multifamily properties in Iowa.
SoftQuotes' lender rates for 5+ unit multifamily loans in Iowa are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.32% - 7.17% |
| 7 Year Fixed | 6.63% - 7.13% |
| 10 Year Fixed | 6.64% - 7.07% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.85% - 6.40% |
| 7 Year Fixed | 5.86% - 6.41% |
| 10 Year Fixed | 5.72% - 6.27% |
The state of Iowa prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $472 | $791 | $558 |
| 1 bedroom | $543 | $862 | $613 |
| 2 bedroom | $715 | $1,112 | $785 |
| 3 bedroom | $889 | $1,591 | $1,038 |
| 4 bedroom | $970 | $1,925 | $1,151 |