Akron USDA Loan Rates, Closing Costs & Stats

AKRON, OH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.45% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.41% and one month ago for the week of 2025-01-10, the average rate was 6.55%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-02-14, the average rate was 7.35%.

    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 $132,825 (5.3%) $213,814 (8.8%) 0.49 1,868
    2018-02-01 $133,900 (3.1%) $216,225 (7.3%) 0.49 1,845
    2018-03-01 $145,000 (5.1%) $229,991 (9.4%) 0.51 1,793
    2018-04-01 $149,950 (7.1%) $237,212 (9.8%) 0.51 1,771
    2018-05-01 $162,400 (16.0%) $244,625 (7.1%) 0.54 1,808
    2018-06-01 $169,900 (18.5%) $252,329 (9.8%) 0.57 1,920
    2018-07-01 $173,000 (16.1%) $253,602 (9.8%) 0.58 1,960
    2018-08-01 $166,000 (10.7%) $243,061 (6.8%) 0.56 2,099
    2018-09-01 $160,000 (8.1%) $239,641 (5.2%) 0.54 2,131
    2018-10-01 $159,900 (11.1%) $236,163 (7.2%) 0.54 2,105
    2018-11-01 $154,975 (10.7%) $236,661 (8.9%) 0.53 2,005
    2018-12-01 $152,000 (9.4%) $233,394 (8.8%) 0.52 1,790
    2019-01-01 $149,900 (12.9%) $234,887 (9.9%) 0.52 1,624
    2019-02-01 $153,525 (14.7%) $245,902 (13.7%) 0.52 1,481
    2019-03-01 $164,014 (13.1%) $252,842 (9.9%) 0.54 1,486
    2019-04-01 $169,250 (12.9%) $259,196 (9.3%) 0.54 1,494
    2019-05-01 $174,900 (7.7%) $255,460 (4.4%) 0.55 1,549
    2019-06-01 $179,000 (5.4%) $256,375 (1.6%) 0.56 1,693
    2019-07-01 $177,450 (2.6%) $257,121 (1.4%) 0.56 1,788
    2019-08-01 $172,200 (3.7%) $252,186 (3.8%) 0.55 1,817
    2019-09-01 $168,150 (5.1%) $246,668 (2.9%) 0.54 1,868
    2019-10-01 $165,000 (3.2%) $242,053 (2.5%) 0.53 1,937
    2019-11-01 $153,950 (-0.7%) $224,363 (-5.2%) 0.51 1,870
    2019-12-01 $149,900 (-1.4%) $216,272 (-7.3%) 0.50 1,702
    2020-01-01 $144,900 (-3.3%) $215,976 (-8.1%) 0.48 1,542
    2020-02-01 $149,900 (-2.4%) $224,664 (-8.6%) 0.49 1,385
    2020-03-01 $159,950 (-2.5%) $239,728 (-5.2%) 0.50 1,293
    2020-04-01 $166,450 (-1.7%) $245,938 (-5.1%) 0.52 1,260
    2020-05-01 $178,250 (1.9%) $254,645 (-0.3%) 0.55 1,132
    2020-06-01 $189,450 (5.8%) $267,565 (4.4%) 0.56 1,061
    2020-07-01 $189,950 (7.0%) $271,112 (5.4%) 0.55 1,015
    2020-08-01 $189,900 (10.3%) $272,614 (8.1%) 0.54 923
    2020-09-01 $179,950 (7.0%) $270,789 (9.8%) 0.52 918
    2020-10-01 $179,900 (9.0%) $265,953 (9.9%) 0.52 927
    2020-11-01 $166,750 (8.3%) $253,511 (13.0%) 0.49 915
    2020-12-01 $158,500 (5.7%) $239,545 (10.8%) 0.47 792
    2021-01-01 $149,900 (3.5%) $229,439 (6.2%) 0.45 676
    2021-02-01 $153,850 (2.6%) $248,136 (10.5%) 0.45 523
    2021-03-01 $167,400 (4.7%) $256,752 (7.1%) 0.48 482
    2021-04-01 $179,925 (8.1%) $267,615 (8.8%) 0.49 478
    2021-05-01 $189,450 (6.3%) $272,707 (7.1%) 0.50 583
    2021-06-01 $187,450 (-1.1%) $272,231 (1.7%) 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 $187,400 (-1.1%) $293,402 (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 $188,250 (10.8%) $266,899 (0.8%) 0.45 1,090
    2022-12-01 $179,999 (14.4%) $268,029 (5.3%) 0.44 929
    2023-01-01 $177,450 (18.9%) $264,401 (4.0%) 0.44 792
    2023-02-01 $180,450 (16.4%) $270,681 (0.2%) 0.44 656
    2023-03-01 $179,675 (4.5%) $274,750 (-3.2%) 0.42 611
    2023-04-01 $199,900 (11.1%) $290,760 (-1.2%) 0.46 578
    2023-05-01 $212,000 (13.1%) $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 $229,950 (21.7%) $323,978 (19.1%) 0.54 900
    2023-11-01 $217,000 (15.3%) $317,322 (18.9%) 0.51 887
    2023-12-01 $217,000 (20.6%) $318,336 (18.8%) 0.52 792
    2024-01-01 $214,793 (21.0%) $323,634 (22.4%) 0.51 707
    2024-02-01 $209,950 (16.4%) $318,861 (17.8%) 0.50 645
    2024-03-01 $214,900 (19.6%) $325,974 (18.6%) 0.50 646
    2024-04-01 $228,750 (14.4%) $354,727 (22.0%) 0.53 594
    2024-05-01 $247,000 (16.5%) $377,008 (26.2%) 0.57 638
    2024-06-01 $250,000 (10.9%) $364,581 (20.2%) 0.58 719
    2024-07-01 $249,675 (8.6%) $362,925 (15.3%) 0.57 824
    2024-08-01 $244,900 (5.3%) $342,066 (5.9%) 0.57 927
    2024-09-01 $230,000 (-2.1%) $325,738 (-0.2%) 0.54 993
    2024-10-01 $228,200 (-0.8%) $318,669 (-1.6%) 0.54 1,105
    2024-11-01 $219,900 (1.3%) $303,387 (-4.4%) 0.53 1,152
    2024-12-01 $209,950 (-3.3%) $281,571 (-11.6%) 0.52 966
    2025-01-01 $199,950 (-6.9%) $283,971 (-12.3%) 0.00 862
    Akron's median listing price for 2025-01-01 was $199,950, a difference of $-14,843 (-6.9%) versus the prior year and $-10,000 versus the prior month.

    Akron's median listing price comes in at 0% of the national average.

    Akron's average listing price for 2025-01-01 was $283,971, a difference of $-39,663 (-12.3%) versus the prior year and $2,400 versus the prior month.

    For the 2025-01-01 period, Akron had 862 MLS listings, a difference of -104 listings (-11%) versus the prior month and 155 listings (22%) 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 1,546 sqft
    2018-03-01 56 days 1,585 sqft
    2018-04-01 49 days 1,606 sqft
    2018-05-01 47 days 1,665 sqft
    2018-06-01 45 days 1,695 sqft
    2018-07-01 50 days 1,874 sqft
    2018-08-01 48 days 1,798 sqft
    2018-09-01 53 days 1,788 sqft
    2018-10-01 57 days 1,781 sqft
    2018-11-01 59 days 1,740 sqft
    2018-12-01 67 days 1,720 sqft
    2019-01-01 75 days 1,683 sqft
    2019-02-01 72 days 1,708 sqft
    2019-03-01 55 days 1,732 sqft
    2019-04-01 44 days 1,752 sqft
    2019-05-01 42 days 1,707 sqft
    2019-06-01 43 days 1,726 sqft
    2019-07-01 47 days 1,747 sqft
    2019-08-01 51 days 1,735 sqft
    2019-09-01 53 days 1,731 sqft
    2019-10-01 54 days 1,728 sqft
    2019-11-01 61 days 1,680 sqft
    2019-12-01 70 days 1,637 sqft
    2020-01-01 80 days 1,615 sqft
    2020-02-01 77 days 1,644 sqft
    2020-03-01 58 days 1,707 sqft
    2020-04-01 54 days 1,710 sqft
    2020-05-01 72 days 1,748 sqft
    2020-06-01 55 days 1,819 sqft
    2020-07-01 45 days 1,822 sqft
    2020-08-01 48 days 1,800 sqft
    2020-09-01 51 days 1,765 sqft
    2020-10-01 46 days 1,746 sqft
    2020-11-01 50 days 1,652 sqft
    2020-12-01 57 days 1,576 sqft
    2021-01-01 60 days 1,533 sqft
    2021-02-01 50 days 1,548 sqft
    2021-03-01 36 days 1,591 sqft
    2021-04-01 32 days 1,654 sqft
    2021-05-01 26 days 1,698 sqft
    2021-06-01 24 days 1,709 sqft
    2021-07-01 29 days 1,691 sqft
    2021-08-01 31 days 1,658 sqft
    2021-09-01 37 days 1,633 sqft
    2021-10-01 39 days 1,615 sqft
    2021-11-01 42 days 1,622 sqft
    2021-12-01 45 days 1,563 sqft
    2022-01-01 50 days 1,537 sqft
    2022-02-01 46 days 1,547 sqft
    2022-03-01 35 days 1,576 sqft
    2022-04-01 25 days 1,586 sqft
    2022-05-01 28 days 1,629 sqft
    2022-06-01 28 days 1,668 sqft
    2022-07-01 31 days 1,680 sqft
    2022-08-01 36 days 1,671 sqft
    2022-09-01 36 days 1,652 sqft
    2022-10-01 36 days 1,640 sqft
    2022-11-01 39 days 1,665 sqft
    2022-12-01 49 days 1,623 sqft
    2023-01-01 56 days 1,607 sqft
    2023-02-01 48 days 1,619 sqft
    2023-03-01 38 days 1,584 sqft
    2023-04-01 36 days 1,668 sqft
    2023-05-01 36 days 1,681 sqft
    2023-06-01 33 days 1,692 sqft
    2023-07-01 34 days 1,747 sqft
    2023-08-01 32 days 1,743 sqft
    2023-09-01 36 days 1,730 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 1,626 sqft
    2024-03-01 38 days 1,672 sqft
    2024-04-01 36 days 1,788 sqft
    2024-05-01 23 days 1,803 sqft
    2024-06-01 25 days 1,799 sqft
    2024-07-01 32 days 1,757 sqft
    2024-08-01 33 days 1,746 sqft
    2024-09-01 36 days 1,697 sqft
    2024-10-01 36 days 1,669 sqft
    2024-11-01 40 days 1,648 sqft
    2024-12-01 51 days 1,612 sqft
    2025-01-01 0 days 1,583 sqft
    Akron's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Akron's median square footage for active listings during the 2025-01-01 period was 1,583 sqft. One year prior, the average listing was 1,672 sqft.