Lakeville is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Lakeville are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Lakeville are some of the lowest nationally. Lakeville 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 Lakeville.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Lakeville 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 $7.5M |
|---|---|
| 5 Year Fixed | 6.72% - 6.96% |
| 7 Year Fixed | 6.68% - 6.92% |
| 10 Year Fixed | 6.64% - 6.88% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.95% - 6.05% |
| 7 Year Fixed | 5.96% - 6.06% |
| 10 Year Fixed | 5.89% - 6.29% |
All major multifamily lender types are lending in Lakeville.
The city of Lakeville in Dakota County has a population of 67,317. The median rent in Dakota County for a 2 bedroom is $1,410. The median Lakeville resident is 37 years old with a yearly income of $49,872. The average family has 3.25 members and a median household income of $110,212. Lakeville has a 51% higher education rate. The unemployment rate in Lakeville is 2.8%.
14.5% of Lakeville households are renters.
29.9% median household income spent on rent.
Bedrooms |
Dakota 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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