Superior is located in a what is considered a small market for 5+ unit multifamily loans. Multifamily loans in Superior are considered moderate risk due to market dynamics. Interest rates for multifamily loans in Superior are slightly higher than the national average. Superior apartments may be eligible for non-recourse multifamily loans up to 75% for purchases and 70% for refinances. SoftQuotes' lenders will lend lend on 5+ unit multifamily properties in Superior.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Superior are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.07% - 7.81% |
| 7 Year Fixed | 6.96% - 7.47% |
| 10 Year Fixed | 6.90% - 7.30% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 7.23% - 7.47% |
| 7 Year Fixed | 6.84% - 7.08% |
| 10 Year Fixed | 6.73% - 6.97% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.87% - 7.61% |
| 7 Year Fixed | 6.76% - 7.27% |
| 10 Year Fixed | 6.70% - 7.10% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.25% - 6.35% |
| 7 Year Fixed | 6.26% - 6.36% |
| 10 Year Fixed | 6.19% - 6.39% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Superior.
The city of Superior in Douglas County has a population of 25,977. The median rent in Douglas County for a 2 bedroom is $947. The median Superior resident is 38 years old with a yearly income of $26,845. The average family has 2.76 members and a median household income of $46,957. Superior has a 24% higher education rate. The unemployment rate in Superior is 3.3%.
44.6% of Superior households are renters.
29.1% median household income spent on rent.
Bedrooms |
Douglas County 1 |
Wisconsin 2 |
National 2 |
|---|---|---|---|
| Studio | $701 | $595 | $737 |
| 1 bedroom | $719 | $668 | $813 |
| 2 bedroom | $947 | $856 | $1,015 |
| 3 bedroom | $1,222 | $1,127 | $1,325 |
| 4 bedroom | $1,493 | $1,256 | $1,521 |
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