Sioux City is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Sioux City are considered greater risk due to market dynamics. Interest rates for multifamily loans in Sioux City are higher than the national average. Sioux City 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 Sioux City.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Sioux City 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 Sioux City.
The city of Sioux City in Woodbury County has a population of 82,651. The median rent in Woodbury County for a 2 bedroom is $875. The median Sioux City resident is 34 years old with a yearly income of $29,804. The average family has 3.17 members and a median household income of $55,433. Sioux City has a 22% higher education rate. The unemployment rate in Sioux City is 4.8%.
37.3% of Sioux City households are renters.
27.6% median household income spent on rent.
Bedrooms |
Woodbury County 1 |
Iowa 2 |
National 2 |
|---|---|---|---|
| Studio | $577 | $558 | $737 |
| 1 bedroom | $664 | $613 | $813 |
| 2 bedroom | $875 | $785 | $1,015 |
| 3 bedroom | $1,088 | $1,038 | $1,325 |
| 4 bedroom | $1,187 | $1,151 | $1,521 |
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