Inver Grove Heights is located in a strong market for 5+ unit multifamily loans. Multifamily loans in Inver Grove Heights are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in Inver Grove Heights are some of the lowest nationally. Inver Grove Heights apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Inver Grove Heights.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Inver Grove Heights 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 $7.5M |
|---|---|
| 5 Year Fixed | 5.17% - 5.41% |
| 7 Year Fixed | 5.23% - 5.47% |
| 10 Year Fixed | 5.14% - 5.38% |
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® |
$7.5M to $100M |
|---|---|
| 5 Year Fixed | 5.55% - 5.70% |
| 7 Year Fixed | 5.56% - 5.71% |
| 10 Year Fixed | 5.56% - 5.71% |
All major multifamily lender types are lending in Inver Grove Heights.
The city of Inver Grove Heights in Dakota County has a population of 35,672. The median rent in Dakota County for a 2 bedroom is $1,410. The median Inver Grove Heights resident is 40 years old with a yearly income of $40,127. The average family has 3.09 members and a median household income of $78,347. Inver Grove Heights has a 36% higher education rate. The unemployment rate in Inver Grove Heights is 4.3%.
32.2% of Inver Grove Heights households are renters.
26.5% median household income spent on rent.
Bedrooms |
Dakota County 1 |
Minnesota 2 |
National 2 |
|---|---|---|---|
| Studio | $968 | $607 | $737 |
| 1 bedroom | $1,136 | $694 | $813 |
| 2 bedroom | $1,410 | $881 | $1,015 |
| 3 bedroom | $1,982 | $1,200 | $1,325 |
| 4 bedroom | $2,324 | $1,366 | $1,521 |
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