Akron USDA Loan Rates, Closing Costs & Stats

AKRON, OH

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 8 lenders originated 12 USDA loans during 2022. The total origination value was $1,630,000, with an average USDA loan value of $135,833.

Akron USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Akron averaged 6.75% for the week of 2024-03-01, compared to the national average (all USDA variants) of 6.729% for the same period.

Akron's average USDA mortgage closing costs are $5,309.

The average rate for the prior week (2024-02-23) was 6.5% and one month ago for the week of 2024-01-26, the average rate was 6.36%.

The average rate one year ago was 6.12%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.48%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNION HOME MORTGAGE CORP. 2 3.88% $6,164
LIBERTY HOME MORTGAGE CORPORATION 2 6.44% $3,017
Waterstone Mortgage Corporation 2 5.31% $6,452
Equity Prime Mortgage LLC 1 6.75% $10,475
UNITED WHOLESALE MORTGAGE, LLC 1 5.50% $4,912
Magnolia Bank 1 5.63% $4,400
Flagstar Bank, FSB 1 4.75% $5,119
HOME POINT FINANCIAL CORPORATION 1 2.38% $4,409

The top Akron USDA lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 2 USDA loans originated. Their average total fees are $6,164, which is $3,148 higher than the next largest lender, LIBERTY HOME 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
Akron's median listing price for 2024-01-01 was $210,500, a difference of $33,050 (18.6%) versus the prior year and $-4,495 versus the prior month.

Akron's median listing price comes in at 51% of the national average.

Akron's average listing price for 2024-01-01 was $322,223, a difference of $57,883 (21.9%) versus the prior year and $4,996 versus the prior month.

For the 2024-01-01 period, Akron had 701 MLS listings, a difference of -85 listings (-11%) versus the prior month and -91 listings (-11%) 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 1,782 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
Akron's median listing age (time on market) for 2024-01-01 was 53 days. This is -5% shorter than the same period one year ago.

Akron's median square footage for active listings during the 2024-01-01 period was 1,672 sqft. One year prior, the average listing was 1,608 sqft.