Bismarck is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Bismarck are considered greater risk due to market dynamics. Interest rates for multifamily loans in Bismarck are higher than the national average. Bismarck 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 Bismarck.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Bismarck are:
Fannie Mae® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 6.56% - 7.30% |
| 7 Year Fixed | 6.46% - 6.97% |
| 10 Year Fixed | 6.40% - 6.80% |
Freddie Mac® |
$1M to $6M |
|---|---|
| 5 Year Fixed | 5.68% - 5.92% |
| 7 Year Fixed | 5.39% - 5.63% |
| 10 Year Fixed | 5.23% - 5.47% |
Fannie Mae® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 6.36% - 7.10% |
| 7 Year Fixed | 6.26% - 6.77% |
| 10 Year Fixed | 6.20% - 6.60% |
Freddie Mac® |
$6M to $100M |
|---|---|
| 5 Year Fixed | 5.70% - 5.85% |
| 7 Year Fixed | 5.71% - 5.86% |
| 10 Year Fixed | 5.71% - 5.86% |
Agency lenders along with regional banks and credit unions are most likely to lend on multifamily properties in Bismarck.
The city of Bismarck in Burleigh County has a population of 73,529. The median rent in Burleigh County for a 2 bedroom is $945. The median Bismarck resident is 37 years old with a yearly income of $38,786. The average family has 2.87 members and a median household income of $64,444. Bismarck has a 36% higher education rate. The unemployment rate in Bismarck is 2.3%.
36.7% of Bismarck households are renters.
26.8% median household income spent on rent.
Bedrooms |
Burleigh County 1 |
North Dakota 2 |
National 2 |
|---|---|---|---|
| Studio | $764 | $625 | $737 |
| 1 bedroom | $769 | $642 | $813 |
| 2 bedroom | $945 | $806 | $1,015 |
| 3 bedroom | $1,352 | $1,109 | $1,325 |
| 4 bedroom | $1,544 | $1,252 | $1,521 |
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