130,576 (or 17.13%) of the 762,062 population of North Dakota live in 5+ unit apartment properties. North Dakota has approximately 91,338 multifamily units. Last year, 1,104 new apartment units were constructed in North Dakota, representing a 1.22% growth in units. Multifamily units make up 26.51% of the total housing stock in North Dakota.
Interest rates for multifamily loans in North Dakota are very competitive. North Dakota 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 North Dakota.
SoftQuotes' lender rates for 5+ unit multifamily loans in North Dakota are:
Loan Amount |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.07% - 6.92% |
| 7 Year Fixed | 6.18% - 6.68% |
| 10 Year Fixed | 6.19% - 6.62% |
Loan Amount |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.44% - 5.99% |
| 7 Year Fixed | 5.49% - 6.04% |
| 10 Year Fixed | 5.47% - 6.02% |
The state of North Dakota prohibits rent control.
Bedrooms |
Low1 |
High2 |
Average2 |
|---|---|---|---|
| Studio | $553 | $880 | $625 |
| 1 bedroom | $557 | $885 | $642 |
| 2 bedroom | $734 | $1,162 | $806 |
| 3 bedroom | $913 | $1,533 | $1,109 |
| 4 bedroom | $997 | $1,896 | $1,252 |