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Multifamily Loans in South Dakota

Overview

82,615 (or 9.34%) of the 884,659 population of South Dakota live in 5+ unit apartment properties. South Dakota has approximately 59,403 multifamily units. Last year, 2,610 new apartment units were constructed in South Dakota, representing a 4.6% growth in units. Multifamily units make up 7.8% of the total housing stock in South Dakota.

Interest rates for multifamily loans in South Dakota are very competitive. South 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 South Dakota.

Get multifamily loan quotes for Jan 29, 2022


Multifamily Loan Rates in South Dakota

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

Loan Amount
$1M to $6M
5 Year Fixed 3.14% - 4.17%
7 Year Fixed 3.28% - 3.93%
10 Year Fixed 3.53% - 4.07%
Loan Amount
$6M to $100M
5 Year Fixed 3.46% - 4.11%
7 Year Fixed 3.59% - 4.44%
10 Year Fixed 3.53% - 4.33%
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 01/28/2022.

Get multifamily loan quotes for Jan 29, 2022


South Dakota Rents

The state of South Dakota prohibits rent control.

Bedrooms
Low1
High2
Average2
Studio $503 $677 $539
1 bedroom $546 $754 $599
2 bedroom $719 $969 $770
3 bedroom $894 $1,323 $1,019
4 bedroom $975 $1,589 $1,196
1 County median 2 Average of counties
Source: Federal Housing Finance Agency