Winona is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Winona are considered greater risk due to market dynamics. Interest rates for multifamily loans in Winona are higher than the national average. Winona 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 Winona.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Winona 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 Winona.
The city of Winona in Winona County has a population of 26,594. The median rent in Winona County for a 2 bedroom is $807. The median Winona resident is 30 years old with a yearly income of $21,570. The average family has 2.89 members and a median household income of $48,677. Winona has a 34% higher education rate. The unemployment rate in Winona is 4.5%.
38.7% of Winona households are renters.
33.5% median household income spent on rent.
Bedrooms |
Winona County 1 |
Minnesota 2 |
National 2 |
|---|---|---|---|
| Studio | $532 | $607 | $737 |
| 1 bedroom | $640 | $694 | $813 |
| 2 bedroom | $807 | $881 | $1,015 |
| 3 bedroom | $1,025 | $1,200 | $1,325 |
| 4 bedroom | $1,259 | $1,366 | $1,521 |
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