Williston is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Williston are considered greater risk due to market dynamics. Interest rates for multifamily loans in Williston are higher than the national average. Williston 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 Williston.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Williston 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 | 7.33% - 7.57% |
| 7 Year Fixed | 6.94% - 7.18% |
| 10 Year Fixed | 6.83% - 7.07% |
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 | 6.40% - 6.50% |
| 7 Year Fixed | 6.41% - 6.51% |
| 10 Year Fixed | 6.34% - 6.44% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Williston.
The city of Williston in Williams County has a population of 29,033. The median rent in Williams County for a 2 bedroom is $959. The median Williston resident is 30 years old with a yearly income of $43,311. The average family has 3.02 members and a median household income of $84,710. Williston has a 25% higher education rate. The unemployment rate in Williston is 2.6%.
53.9% of Williston households are renters.
17.9% median household income spent on rent.
Bedrooms |
Williams County 1 |
North Dakota 2 |
National 2 |
|---|---|---|---|
| Studio | $633 | $625 | $737 |
| 1 bedroom | $728 | $642 | $813 |
| 2 bedroom | $959 | $806 | $1,015 |
| 3 bedroom | $1,372 | $1,109 | $1,325 |
| 4 bedroom | $1,461 | $1,252 | $1,521 |
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