Akron USDA Loan Rates, Closing Costs & Stats

AKRON, OH

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Akron's 7 lenders originated 8 USDA loans during 2023. The total origination value was $1,350,000, with an average USDA loan value of $168,750.

    Akron USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Akron averaged 7.08% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Akron's average USDA mortgage closing costs are $5,375.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 6.92%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.99%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Akron USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Akron level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $10,579
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $2,623
    Ixonia Bank 1 7.13% $6,533
    Magnolia Bank 1 5.99% $13,952
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $600
    UNION HOME MORTGAGE CORP. 1 6.00% $10,415
    UNITED WHOLESALE MORTGAGE, LLC 1 7.24% $4,969

    The top Akron USDA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 1 USDA loans originated. Their average total fees are $10,579, which is $7,955 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Akron USDA lenders (with over 10 loans originated) are .

    The lowest rate Akron USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Akron (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $132,450 (5.0%) $213,127 (8.5%) 0.49 1,867
    2018-02-01 $133,800 (3.0%) $215,526 (7.0%) 0.49 1,844
    2018-03-01 $145,000 (5.1%) $229,294 (9.2%) 0.51 1,792
    2018-04-01 $149,950 (7.1%) $236,539 (9.6%) 0.51 1,770
    2018-05-01 $162,400 (16.0%) $243,967 (6.9%) 0.54 1,807
    2018-06-01 $169,900 (18.7%) $251,718 (9.6%) 0.57 1,920
    2018-07-01 $172,875 (16.0%) $253,010 (9.6%) 0.58 1,959
    2018-08-01 $165,725 (10.6%) $242,523 (6.5%) 0.56 2,098
    2018-09-01 $160,000 (8.1%) $239,124 (5.2%) 0.54 2,130
    2018-10-01 $159,900 (11.4%) $235,622 (7.2%) 0.54 2,104
    2018-11-01 $154,950 (10.7%) $236,054 (8.9%) 0.53 2,004
    2018-12-01 $152,000 (9.6%) $232,712 (8.8%) 0.52 1,789
    2019-01-01 $149,900 (13.2%) $234,131 (9.9%) 0.52 1,623
    2019-02-01 $152,775 (14.2%) $245,081 (13.7%) 0.52 1,480
    2019-03-01 $163,872 (13.0%) $252,014 (9.9%) 0.54 1,485
    2019-04-01 $169,125 (12.8%) $258,378 (9.2%) 0.54 1,493
    2019-05-01 $174,900 (7.7%) $254,801 (4.4%) 0.55 1,548
    2019-06-01 $179,000 (5.4%) $255,767 (1.6%) 0.56 1,692
    2019-07-01 $177,450 (2.7%) $256,523 (1.4%) 0.56 1,787
    2019-08-01 $172,200 (3.9%) $251,627 (3.8%) 0.55 1,816
    2019-09-01 $168,150 (5.1%) $246,166 (2.9%) 0.54 1,868
    2019-10-01 $165,000 (3.2%) $241,600 (2.5%) 0.53 1,938
    2019-11-01 $154,150 (-0.5%) $224,815 (-4.8%) 0.51 1,873
    2019-12-01 $149,900 (-1.4%) $216,795 (-6.8%) 0.50 1,705
    2020-01-01 $144,900 (-3.3%) $216,557 (-7.5%) 0.48 1,544
    2020-02-01 $149,900 (-1.9%) $225,280 (-8.1%) 0.49 1,388
    2020-03-01 $159,950 (-2.4%) $240,318 (-4.6%) 0.50 1,295
    2020-04-01 $167,200 (-1.1%) $246,488 (-4.6%) 0.52 1,261
    2020-05-01 $179,500 (2.6%) $255,278 (0.2%) 0.55 1,134
    2020-06-01 $189,450 (5.8%) $267,833 (4.7%) 0.56 1,062
    2020-07-01 $189,950 (7.0%) $271,112 (5.7%) 0.55 1,015
    2020-08-01 $189,900 (10.3%) $272,614 (8.3%) 0.54 923
    2020-09-01 $179,950 (7.0%) $270,789 (10.0%) 0.52 918
    2020-10-01 $179,900 (9.0%) $265,953 (10.1%) 0.52 927
    2020-11-01 $166,750 (8.2%) $253,511 (12.8%) 0.49 915
    2020-12-01 $158,500 (5.7%) $239,545 (10.5%) 0.47 792
    2021-01-01 $149,900 (3.5%) $229,439 (6.0%) 0.45 676
    2021-02-01 $153,850 (2.6%) $248,136 (10.2%) 0.45 523
    2021-03-01 $167,400 (4.7%) $256,752 (6.8%) 0.48 482
    2021-04-01 $179,925 (7.6%) $267,615 (8.6%) 0.49 478
    2021-05-01 $189,450 (5.5%) $272,707 (6.8%) 0.50 583
    2021-06-01 $187,450 (-1.1%) $272,231 (1.6%) 0.49 768
    2021-07-01 $189,900 (0.0%) $268,163 (-1.1%) 0.50 909
    2021-08-01 $183,950 (-3.1%) $279,379 (2.5%) 0.49 958
    2021-09-01 $179,450 (-0.3%) $274,373 (1.3%) 0.48 965
    2021-10-01 $175,000 (-2.7%) $265,176 (-0.3%) 0.47 975
    2021-11-01 $169,950 (1.9%) $264,925 (4.5%) 0.45 861
    2021-12-01 $157,400 (-0.7%) $254,561 (6.3%) 0.43 793
    2022-01-01 $149,250 (-0.4%) $254,363 (10.9%) 0.40 644
    2022-02-01 $155,000 (0.8%) $270,084 (8.9%) 0.40 489
    2022-03-01 $171,950 (2.7%) $283,749 (10.5%) 0.43 473
    2022-04-01 $179,900 (0.0%) $294,221 (9.9%) 0.43 559
    2022-05-01 $187,425 (-1.1%) $293,413 (7.6%) 0.43 654
    2022-06-01 $199,900 (6.6%) $298,113 (9.5%) 0.45 803
    2022-07-01 $199,900 (5.3%) $289,189 (7.8%) 0.45 964
    2022-08-01 $199,750 (8.6%) $278,782 (-0.2%) 0.46 966
    2022-09-01 $198,000 (10.3%) $278,249 (1.4%) 0.46 1,001
    2022-10-01 $189,000 (8.0%) $272,085 (2.6%) 0.44 1,085
    2022-11-01 $187,594 (10.4%) $266,783 (0.7%) 0.45 1,089
    2022-12-01 $179,999 (14.4%) $267,984 (5.3%) 0.44 929
    2023-01-01 $177,450 (18.9%) $264,340 (3.9%) 0.44 792
    2023-02-01 $180,450 (16.4%) $270,612 (0.2%) 0.44 656
    2023-03-01 $179,925 (4.6%) $274,974 (-3.1%) 0.42 612
    2023-04-01 $199,900 (11.1%) $290,906 (-1.1%) 0.46 578
    2023-05-01 $211,000 (12.6%) $298,760 (1.8%) 0.48 587
    2023-06-01 $225,500 (12.8%) $303,426 (1.8%) 0.51 685
    2023-07-01 $230,000 (15.1%) $314,740 (8.8%) 0.52 670
    2023-08-01 $232,475 (16.4%) $323,173 (15.9%) 0.53 763
    2023-09-01 $234,950 (18.7%) $326,310 (17.3%) 0.55 823
    2023-10-01 $229,925 (21.7%) $323,978 (19.1%) 0.54 900
    2023-11-01 $214,993 (14.6%) $316,819 (18.8%) 0.51 884
    2023-12-01 $214,995 (19.4%) $317,227 (18.4%) 0.52 786
    2024-01-01 $210,500 (18.6%) $322,223 (21.9%) 0.51 701
    2024-02-01 $207,823 (15.2%) $317,387 (17.3%) 0.50 639
    2024-03-01 $212,500 (18.1%) $324,680 (18.1%) 0.50 645
    Akron's median listing price for 2024-03-01 was $212,500, a difference of $32,575 (18.1%) versus the prior year and $4,677 versus the prior month.

    Akron's median listing price comes in at 50% of the national average.

    Akron's average listing price for 2024-03-01 was $324,680, a difference of $49,706 (18.1%) versus the prior year and $7,293 versus the prior month.

    For the 2024-03-01 period, Akron had 645 MLS listings, a difference of 6 listings (1%) versus the prior month and 33 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Akron (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,538 sqft
    2018-02-01 68 days 1,548 sqft
    2018-03-01 56 days 1,589 sqft
    2018-04-01 49 days 1,606 sqft
    2018-05-01 47 days 1,666 sqft
    2018-06-01 45 days 1,698 sqft
    2018-07-01 50 days 1,869 sqft
    2018-08-01 48 days 1,800 sqft
    2018-09-01 53 days 1,788 sqft
    2018-10-01 57 days 1,781 sqft
    2018-11-01 59 days 1,738 sqft
    2018-12-01 67 days 1,722 sqft
    2019-01-01 75 days 1,681 sqft
    2019-02-01 72 days 1,707 sqft
    2019-03-01 55 days 1,728 sqft
    2019-04-01 44 days 1,747 sqft
    2019-05-01 42 days 1,703 sqft
    2019-06-01 43 days 1,725 sqft
    2019-07-01 47 days 1,742 sqft
    2019-08-01 51 days 1,733 sqft
    2019-09-01 53 days 1,729 sqft
    2019-10-01 54 days 1,726 sqft
    2019-11-01 61 days 1,679 sqft
    2019-12-01 70 days 1,634 sqft
    2020-01-01 80 days 1,619 sqft
    2020-02-01 77 days 1,645 sqft
    2020-03-01 58 days 1,708 sqft
    2020-04-01 54 days 1,714 sqft
    2020-05-01 72 days 1,750 sqft
    2020-06-01 55 days 1,820 sqft
    2020-07-01 45 days 1,825 sqft
    2020-08-01 48 days 1,800 sqft
    2020-09-01 51 days 1,767 sqft
    2020-10-01 46 days 1,750 sqft
    2020-11-01 50 days 1,658 sqft
    2020-12-01 57 days 1,578 sqft
    2021-01-01 60 days 1,536 sqft
    2021-02-01 50 days 1,559 sqft
    2021-03-01 36 days 1,595 sqft
    2021-04-01 32 days 1,659 sqft
    2021-05-01 26 days 1,702 sqft
    2021-06-01 24 days 1,707 sqft
    2021-07-01 29 days 1,692 sqft
    2021-08-01 31 days 1,657 sqft
    2021-09-01 37 days 1,634 sqft
    2021-10-01 39 days 1,616 sqft
    2021-11-01 42 days 1,623 sqft
    2021-12-01 45 days 1,564 sqft
    2022-01-01 50 days 1,538 sqft
    2022-02-01 46 days 1,547 sqft
    2022-03-01 35 days 1,575 sqft
    2022-04-01 25 days 1,590 sqft
    2022-05-01 28 days 1,636 sqft
    2022-06-01 28 days 1,668 sqft
    2022-07-01 31 days 1,680 sqft
    2022-08-01 36 days 1,670 sqft
    2022-09-01 36 days 1,652 sqft
    2022-10-01 36 days 1,641 sqft
    2022-11-01 39 days 1,665 sqft
    2022-12-01 49 days 1,624 sqft
    2023-01-01 56 days 1,608 sqft
    2023-02-01 48 days 1,621 sqft
    2023-03-01 38 days 1,584 sqft
    2023-04-01 36 days 1,671 sqft
    2023-05-01 36 days 1,686 sqft
    2023-06-01 33 days 1,693 sqft
    2023-07-01 34 days 1,747 sqft
    2023-08-01 32 days 1,743 sqft
    2023-09-01 36 days 1,731 sqft
    2023-10-01 36 days 1,728 sqft
    2023-11-01 38 days 1,705 sqft
    2023-12-01 44 days 1,685 sqft
    2024-01-01 53 days 1,672 sqft
    2024-02-01 41 days 1,630 sqft
    2024-03-01 38 days 1,680 sqft
    Akron's median listing age (time on market) for 2024-03-01 was 38 days. This is 1% longer than the same period one year ago.

    Akron's median square footage for active listings during the 2024-03-01 period was 1,680 sqft. One year prior, the average listing was 1,584 sqft.