St. Louis Park is located in a strong market for 5+ unit multifamily loans. Multifamily loans in St. Louis Park are considered low risk due to market size and favorable regional economy. Interest rates for multifamily loans in St. Louis Park are some of the lowest nationally. St. Louis Park 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 St. Louis Park.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in St. Louis Park 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 St. Louis Park.
The city of St. Louis Park in Hennepin County has a population of 48,662. The median rent in Hennepin County for a 2 bedroom is $1,410. The median St. Louis Park resident is 35 years old with a yearly income of $47,833. The average family has 2.84 members and a median household income of $80,627. St. Louis Park has a 59% higher education rate. The unemployment rate in St. Louis Park is 2.5%.
43.8% of St. Louis Park households are renters.
26% median household income spent on rent.
Bedrooms |
Hennepin 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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