Dickinson is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Dickinson are considered greater risk due to market dynamics. Interest rates for multifamily loans in Dickinson are higher than the national average. Dickinson 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 Dickinson.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Dickinson 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 Dickinson.
The city of Dickinson in Stark County has a population of 23,133. The median rent in Stark County for a 2 bedroom is $1,072. The median Dickinson resident is 33 years old with a yearly income of $39,880. The average family has 3.12 members and a median household income of $68,718. Dickinson has a 23% higher education rate. The unemployment rate in Dickinson is 2.7%.
47.6% of Dickinson households are renters.
22.6% median household income spent on rent.
Bedrooms |
Stark County 1 |
North Dakota 2 |
National 2 |
|---|---|---|---|
| Studio | $880 | $625 | $737 |
| 1 bedroom | $885 | $642 | $813 |
| 2 bedroom | $1,072 | $806 | $1,015 |
| 3 bedroom | $1,533 | $1,109 | $1,325 |
| 4 bedroom | $1,574 | $1,252 | $1,521 |
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