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Multifamily Loans in Minnesota

Overview

657,623 (or 11.66%) of the 5,639,632 population of Minnesota live in 5+ unit apartment properties. Minnesota has approximately 412,154 multifamily units. Last year, 12,853 new apartment units were constructed in Minnesota, representing a 3.22% growth in units. Multifamily units make up 16.76% of the total housing stock in Minnesota.

Interest rates for multifamily loans in Minnesota are very competitive. Minnesota 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 Minnesota.

Get multifamily loan quotes for Jun 21, 2024


Multifamily Loan Rates in Minnesota

SoftQuotes' lender rates for 5+ unit multifamily loans in Minnesota are:

Loan Amount
$1M to $6M
5 Year Fixed 5.82% - 6.57%
7 Year Fixed 5.88% - 6.28%
10 Year Fixed 5.79% - 6.12%
Loan Amount
$6M to $100M
5 Year Fixed 5.75% - 6.25%
7 Year Fixed 5.72% - 6.22%
10 Year Fixed 5.64% - 6.14%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. This is not an offer or commitment to lend. Rates updated on 06/20/2024.

Get multifamily loan quotes for Jun 21, 2024


Minnesota Rents

The state of Minnesota prohibits rent control.

Bedrooms
Low1
High2
Average2
Studio $484 $968 $607
1 bedroom $557 $1,136 $694
2 bedroom $734 $1,410 $881
3 bedroom $913 $1,982 $1,200
4 bedroom $995 $2,324 $1,366
1 County median 2 Average of counties
Source: Federal Housing Finance Agency