3D Models/Animation

Hello, I am still in the learning process of unity. I have been through some tutorials and some terrain and much other things but I just had a question.

If I were to make a game with say 5 different characters (RPG). Would I have to create animations for all 5 characters? So I would model 1 character, then do its animations. Then do it again with each character?

If your characters are bipedal you can re-target animations using mecanim. If your rig is somewhat standard it even detects your rig automatically. And then you can share animations from other mecanim characters.

You can use mecanim which will allow you to re target animations from one humanoid character to another.
Or have the same rig on the characters and use a program to apply that animation to it that you created already like with Motion Building.