Stevens Point is located in what is considered a very small market for 5+ unit multifamily loans. Multifamily loans in Stevens Point are considered greater risk due to market dynamics. Interest rates for multifamily loans in Stevens Point are higher than the national average. Stevens Point 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 Stevens Point.
SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Stevens Point 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 Stevens Point.
The city of Stevens Point in Portage County has a population of 25,880. The median rent in Portage County for a 2 bedroom is $826. The median Stevens Point resident is 27 years old with a yearly income of $20,280. The average family has 2.85 members and a median household income of $45,471. Stevens Point has a 38% higher education rate. The unemployment rate in Stevens Point is 4.1%.
48.7% of Stevens Point households are renters.
31.9% median household income spent on rent.
Bedrooms |
Portage County 1 |
Wisconsin 2 |
National 2 |
|---|---|---|---|
| Studio | $598 | $595 | $737 |
| 1 bedroom | $652 | $668 | $813 |
| 2 bedroom | $826 | $856 | $1,015 |
| 3 bedroom | $1,065 | $1,127 | $1,325 |
| 4 bedroom | $1,259 | $1,256 | $1,521 |
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