Loading...

Multifamily Loans in Minnesota

Overview

Of the 5,639,632 Minnesota residents, 657,623 (or 11.66%) 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 Sep 28, 2021


Multifamily Loan Rates in Minnesota

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

Loan Amount
$1M to $6M
5 Year Fixed 2.99% - 4.02%
7 Year Fixed 3.23% - 3.88%
10 Year Fixed 3.48% - 4.02%
Loan Amount
$6M to $100M
5 Year Fixed 2.54% - 2.94%
7 Year Fixed 2.83% - 3.43%
10 Year Fixed 2.95% - 3.50%
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 09/27/2021.

Get multifamily loan quotes for Sep 28, 2021


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