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Multifamily Loans in
Sioux City, IA

Overview

Sioux City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Sioux City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Sioux City are higher than the national average. Sioux City apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Sioux City.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Loan Rates in Sioux City, IA

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sioux City are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $6M
5 Year Fixed 3.78% - 4.02%
7 Year Fixed 3.59% - 3.83%
10 Year Fixed 3.68% - 3.92%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$6M to $100M
5 Year Fixed 3.27% - 3.52%
7 Year Fixed 3.44% - 3.89%
10 Year Fixed 3.42% - 3.82%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/07/2021. This is not an offer or commitment to lend. Multifamily loan rates in Sioux City may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 08, 2021


Multifamily Lenders in Sioux City, IA

Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Sioux City.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Moderate leverage
  • Tax returns not required
  • Non-recourse
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse

Get multifamily loan quotes for Dec 08, 2021


Sioux City Market

The city of Sioux City in Woodbury County has a population of 82,651. The median rent in Woodbury County for a 2 bedroom is $875. The median Sioux City resident is 34 years old with a yearly income of $29,804. The average family has 3.17 members and a median household income of $55,433. Sioux City has a 22% higher education rate. The unemployment rate in Sioux City is 4.8%.


Population
82,651 people

County
Woodbury County

Renters

37.3% of Sioux City households are renters.


Rent Burden

27.6% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Woodbury County 1
Iowa 2
National 2
Studio $577 $558 $737
1 bedroom $664 $613 $813
2 bedroom $875 $785 $1,015
3 bedroom $1,088 $1,038 $1,325
4 bedroom $1,187 $1,151 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Sioux City Demographics


Median Individual Income
$29,804 / year

Median Household Income
$55,433 / year

Families w/ Dual Incomes
57%

Unemployment Rate
4.8%
Household Income Distribution
Sioux City, IA

Median Age
34 years

Avg Family Size
3.17 people
Age Distribution
Sioux City, IA

College Education or Above
22%

STEM College Graduates
32%
Education Distribution
Sioux City, IA
Source: U.S. Census Bureau

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