South St. Paul is located in a strong market for 5+ unit multifamily loans. Multifamily loans in South St. Paul are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in South St. Paul are some of the lowest nationally. South St. Paul 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 South St. Paul.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in South St. Paul 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 South St. Paul.
The city of South St. Paul in Dakota County has a population of 20,060. The median rent in Dakota County for a 2 bedroom is $1,410. The median South St. Paul resident is 35 years old with a yearly income of $33,765. The average family has 3.09 members and a median household income of $63,247. South St. Paul has a 27% higher education rate. The unemployment rate in South St. Paul is 4.1%.
34.2% of South St. Paul households are renters.
27.8% 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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