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 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
6.62%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Akron's average USDA mortgage closing costs are $5,375.
The average rate for the prior week (2024-12-06) was
6.26% and
one month ago for the week of 2024-11-08, the
average rate was 6.38%.
The average rate one year ago was 7.14%.
For refis of the same type during the week of 2024-12-13, the average rate
was 7.03%.
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 |
| 2024-04-01 | $228,750 (14.4%) | $354,727 (21.9%) | 0.53 | 594 |
| 2024-05-01 | $252,400 (19.6%) | $388,180 (29.9%) | 0.57 | 638 |
| 2024-06-01 | $259,950 (15.3%) | $380,556 (25.4%) | 0.58 | 717 |
| 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%) | $318,672 (-1.6%) | 0.54 | 1,105 |
| 2024-11-01 | $219,900 (2.3%) | $303,387 (-4.2%) | 0.53 | 1,152 |
Akron's median listing price comes in at 53% of the national average.
Akron's average listing price for 2024-11-01 was $303,387, a difference of $-13,432 (-4.2%) versus the prior year and $-15,285 versus the prior month.
For the 2024-11-01 period, Akron had 1,152 MLS listings, a difference of 47 listings (4%) versus the prior month and 268 listings (30%) 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 | 1,669 sqft |
| 2024-02-01 | 41 days | 1,626 sqft |
| 2024-03-01 | 38 days | 1,674 sqft |
| 2024-04-01 | 36 days | 1,807 sqft |
| 2024-05-01 | 23 days | 1,844 sqft |
| 2024-06-01 | 25 days | 1,824 sqft |
| 2024-07-01 | 32 days | 1,770 sqft |
| 2024-08-01 | 33 days | 1,777 sqft |
| 2024-09-01 | 36 days | 1,710 sqft |
| 2024-10-01 | 36 days | 1,677 sqft |
| 2024-11-01 | 40 days | 1,652 sqft |
Akron's median square footage for active listings during the 2024-11-01 period was 1,652 sqft. One year prior, the average listing was 1,705 sqft.