Manitowoc is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Manitowoc are considered greater risk due to market dynamics. Interest rates for multifamily loans in Manitowoc are higher than the national average. Manitowoc 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 Manitowoc.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Manitowoc 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 Manitowoc.
The city of Manitowoc in Manitowoc County has a population of 32,579. The median rent in Manitowoc County for a 2 bedroom is $734. The median Manitowoc resident is 44 years old with a yearly income of $28,325. The average family has 2.87 members and a median household income of $47,861. Manitowoc has a 21% higher education rate. The unemployment rate in Manitowoc is 3.1%.
33.7% of Manitowoc households are renters.
25.7% median household income spent on rent.
Bedrooms |
Manitowoc County 1 |
Wisconsin 2 |
National 2 |
|---|---|---|---|
| Studio | $484 | $595 | $737 |
| 1 bedroom | $557 | $668 | $813 |
| 2 bedroom | $734 | $856 | $1,015 |
| 3 bedroom | $913 | $1,127 | $1,325 |
| 4 bedroom | $1,029 | $1,256 | $1,521 |
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