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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 May 29, 2024


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 6.07% - 6.82%
7 Year Fixed 6.13% - 6.53%
10 Year Fixed 6.04% - 6.37%
Loan Amount
$6M to $100M
5 Year Fixed 5.80% - 6.30%
7 Year Fixed 5.79% - 6.29%
10 Year Fixed 5.74% - 6.24%
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 05/28/2024.

Get multifamily loan quotes for May 29, 2024


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