Buffalo USDA Loan Rates, Closing Costs & Stats
BUFFALO-CHEEKTOWAGA, NY
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.
Buffalo's 6 lenders originated 9 USDA loans during 2024. The total origination value was $1,805,000, with an average USDA loan value of $200,556.
Buffalo USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Buffalo
averaged
6.68%
for the week of 2025-04-04, compared to the national average (all USDA variants) of
6.324% for the same period.
Buffalo's average USDA mortgage closing costs are $4,805.
The average rate for the prior week (2025-03-28) was
6.64% and
one month ago for the week of 2025-02-28, the
average rate was 6.49%.
The average rate one year ago was 6.95%.
For refis of the same type during the week of 2025-04-04, the average rate
was 6.9%.
Buffalo 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 Buffalo level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| Premium Mortgage Corporation | 3 | 6.25% | $2,209 |
| Northwest Bank | 2 | 6.13% | $6,661 |
| Five Star Bank | 1 | 6.63% | $6,041 |
| HOMESTEAD FUNDING CORP. | 1 | 6.38% | $5,874 |
| M&T Bank | 1 | 5.88% | $4,629 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.62% | $5,776 |
The top Buffalo USDA lender as defined by loan originations is Premium Mortgage Corporation, with
3 USDA loans originated. Their average total fees are
$2,209, which is $4,452
lower than the next largest lender,
Northwest Bank.
The lowest fee Buffalo USDA lenders (with over 10 loans originated) are
.
The lowest rate Buffalo USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Buffalo (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 | $159,923 (3.5%) | $230,436 (7.2%) | 0.59 | 1,659 |
| 2018-02-01 | $167,029 (4.5%) | $234,966 (5.1%) | 0.61 | 1,491 |
| 2018-03-01 | $175,900 (6.7%) | $241,002 (6.1%) | 0.62 | 1,490 |
| 2018-04-01 | $187,450 (10.3%) | $257,470 (9.2%) | 0.64 | 1,533 |
| 2018-05-01 | $197,000 (9.5%) | $264,800 (7.7%) | 0.66 | 1,727 |
| 2018-06-01 | $199,000 (10.6%) | $266,124 (7.9%) | 0.66 | 1,988 |
| 2018-07-01 | $195,000 (8.4%) | $262,649 (6.5%) | 0.65 | 2,186 |
| 2018-08-01 | $195,000 (8.4%) | $262,915 (8.3%) | 0.65 | 2,338 |
| 2018-09-01 | $198,000 (11.2%) | $263,742 (11.3%) | 0.67 | 2,372 |
| 2018-10-01 | $189,900 (8.6%) | $259,259 (9.2%) | 0.64 | 2,361 |
| 2018-11-01 | $185,000 (8.9%) | $252,979 (6.8%) | 0.63 | 2,165 |
| 2018-12-01 | $179,900 (6.1%) | $247,777 (4.9%) | 0.62 | 1,975 |
| 2019-01-01 | $179,900 (12.5%) | $247,838 (7.6%) | 0.62 | 1,765 |
| 2019-02-01 | $182,400 (9.2%) | $254,843 (8.5%) | 0.62 | 1,613 |
| 2019-03-01 | $195,643 (11.2%) | $272,977 (13.3%) | 0.64 | 1,543 |
| 2019-04-01 | $212,400 (13.3%) | $288,372 (12.0%) | 0.67 | 1,556 |
| 2019-05-01 | $220,847 (12.1%) | $290,625 (9.8%) | 0.69 | 1,699 |
| 2019-06-01 | $222,245 (11.7%) | $288,903 (8.6%) | 0.69 | 1,857 |
| 2019-07-01 | $219,900 (12.8%) | $285,113 (8.6%) | 0.69 | 1,982 |
| 2019-08-01 | $214,445 (10.0%) | $279,611 (6.4%) | 0.68 | 2,013 |
| 2019-09-01 | $206,264 (4.2%) | $273,784 (3.8%) | 0.66 | 2,078 |
| 2019-10-01 | $199,900 (5.3%) | $268,797 (3.7%) | 0.65 | 2,112 |
| 2019-11-01 | $189,900 (2.7%) | $258,529 (2.2%) | 0.62 | 1,910 |
| 2019-12-01 | $189,900 (5.6%) | $256,498 (3.5%) | 0.63 | 1,633 |
| 2020-01-01 | $189,900 (5.6%) | $257,238 (3.8%) | 0.63 | 1,460 |
| 2020-02-01 | $189,900 (4.1%) | $266,682 (4.7%) | 0.62 | 1,341 |
| 2020-03-01 | $199,900 (2.2%) | $274,018 (0.4%) | 0.63 | 1,260 |
| 2020-04-01 | $217,450 (2.4%) | $282,140 (-2.2%) | 0.68 | 1,201 |
| 2020-05-01 | $229,900 (4.1%) | $294,276 (1.3%) | 0.70 | 1,195 |
| 2020-06-01 | $234,900 (5.7%) | $295,908 (2.4%) | 0.69 | 1,255 |
| 2020-07-01 | $233,450 (6.2%) | $300,594 (5.4%) | 0.68 | 1,239 |
| 2020-08-01 | $224,450 (4.7%) | $296,557 (6.1%) | 0.64 | 1,211 |
| 2020-09-01 | $221,948 (7.6%) | $293,599 (7.2%) | 0.64 | 1,201 |
| 2020-10-01 | $210,000 (5.1%) | $288,123 (7.2%) | 0.60 | 1,128 |
| 2020-11-01 | $209,950 (10.6%) | $286,274 (10.7%) | 0.61 | 993 |
| 2020-12-01 | $202,500 (6.6%) | $282,953 (10.3%) | 0.60 | 842 |
| 2021-01-01 | $210,000 (10.6%) | $289,465 (12.5%) | 0.63 | 695 |
| 2021-02-01 | $232,675 (22.5%) | $305,980 (14.7%) | 0.68 | 648 |
| 2021-03-01 | $242,200 (21.2%) | $308,863 (12.7%) | 0.69 | 685 |
| 2021-04-01 | $249,300 (14.7%) | $323,513 (14.7%) | 0.67 | 706 |
| 2021-05-01 | $248,072 (7.9%) | $316,915 (7.7%) | 0.66 | 785 |
| 2021-06-01 | $247,625 (5.4%) | $321,818 (8.8%) | 0.65 | 911 |
| 2021-07-01 | $239,900 (2.8%) | $316,994 (5.5%) | 0.63 | 1,073 |
| 2021-08-01 | $227,475 (1.4%) | $310,479 (4.7%) | 0.61 | 1,165 |
| 2021-09-01 | $229,925 (3.6%) | $311,442 (6.1%) | 0.61 | 1,103 |
| 2021-10-01 | $225,000 (7.1%) | $313,349 (8.8%) | 0.60 | 1,063 |
| 2021-11-01 | $217,450 (3.6%) | $310,134 (8.3%) | 0.58 | 961 |
| 2021-12-01 | $213,475 (5.4%) | $313,998 (11.0%) | 0.58 | 770 |
| 2022-01-01 | $210,750 (0.4%) | $318,143 (9.9%) | 0.57 | 629 |
| 2022-02-01 | $209,950 (-9.8%) | $324,928 (6.2%) | 0.55 | 569 |
| 2022-03-01 | $219,900 (-9.2%) | $332,589 (7.7%) | 0.55 | 597 |
| 2022-04-01 | $225,000 (-9.8%) | $342,206 (5.8%) | 0.54 | 679 |
| 2022-05-01 | $238,950 (-3.7%) | $344,207 (8.6%) | 0.55 | 826 |
| 2022-06-01 | $244,675 (-1.2%) | $333,222 (3.5%) | 0.54 | 1,027 |
| 2022-07-01 | $249,900 (4.2%) | $338,229 (6.7%) | 0.56 | 1,221 |
| 2022-08-01 | $244,925 (7.7%) | $335,657 (8.1%) | 0.57 | 1,278 |
| 2022-09-01 | $239,900 (4.3%) | $332,388 (6.7%) | 0.56 | 1,197 |
| 2022-10-01 | $239,900 (6.6%) | $324,532 (3.6%) | 0.56 | 1,167 |
| 2022-11-01 | $239,900 (10.3%) | $325,363 (4.9%) | 0.58 | 1,125 |
| 2022-12-01 | $229,900 (7.7%) | $316,837 (0.9%) | 0.57 | 985 |
| 2023-01-01 | $225,000 (6.8%) | $322,535 (1.4%) | 0.56 | 803 |
| 2023-02-01 | $227,450 (8.3%) | $319,473 (-1.7%) | 0.55 | 749 |
| 2023-03-01 | $246,175 (12.0%) | $338,458 (1.8%) | 0.58 | 730 |
| 2023-04-01 | $249,900 (11.1%) | $347,138 (1.4%) | 0.58 | 766 |
| 2023-05-01 | $252,925 (5.9%) | $351,050 (2.0%) | 0.57 | 883 |
| 2023-06-01 | $277,697 (13.5%) | $357,820 (7.4%) | 0.62 | 988 |
| 2023-07-01 | $267,900 (7.2%) | $348,338 (3.0%) | 0.61 | 1,068 |
| 2023-08-01 | $259,725 (6.0%) | $347,052 (3.4%) | 0.60 | 1,064 |
| 2023-09-01 | $259,900 (8.3%) | $350,891 (5.6%) | 0.61 | 1,151 |
| 2023-10-01 | $254,900 (6.3%) | $353,094 (8.8%) | 0.60 | 1,196 |
| 2023-11-01 | $249,900 (4.2%) | $355,570 (9.3%) | 0.60 | 1,122 |
| 2023-12-01 | $249,000 (8.3%) | $363,533 (14.7%) | 0.61 | 960 |
| 2024-01-01 | $240,000 (6.7%) | $358,849 (11.3%) | 0.59 | 789 |
| 2024-02-01 | $251,125 (10.4%) | $373,126 (16.8%) | 0.60 | 715 |
| 2024-03-01 | $269,980 (9.7%) | $377,876 (11.7%) | 0.64 | 761 |
| 2024-04-01 | $284,900 (14.0%) | $383,630 (10.5%) | 0.66 | 805 |
| 2024-05-01 | $297,450 (17.6%) | $389,218 (10.9%) | 0.68 | 930 |
| 2024-06-01 | $289,000 (4.1%) | $380,399 (6.3%) | 0.66 | 1,087 |
| 2024-07-01 | $279,950 (4.5%) | $380,819 (9.3%) | 0.64 | 1,170 |
| 2024-08-01 | $279,900 (7.8%) | $379,239 (9.3%) | 0.65 | 1,244 |
| 2024-09-01 | $277,450 (6.8%) | $377,939 (7.7%) | 0.65 | 1,309 |
| 2024-10-01 | $269,900 (5.9%) | $375,602 (6.4%) | 0.64 | 1,314 |
| 2024-11-01 | $249,995 (0.0%) | $365,720 (2.9%) | 0.60 | 1,220 |
| 2024-12-01 | $249,950 (0.4%) | $364,184 (0.2%) | 0.62 | 1,124 |
| 2025-01-01 | $252,450 (5.2%) | $362,352 (1.0%) | 0.63 | 905 |
| 2025-02-01 | $249,974 (-0.5%) | $375,379 (0.6%) | 0.61 | 895 |
| 2025-03-01 | $260,000 (-3.7%) | $395,994 (4.8%) | 0.00 | 745 |
Buffalo's median listing price comes in at 0% of the national average.
Buffalo's average listing price for 2025-03-01 was $395,994, a difference of $18,118 (4.8%) versus the prior year and $20,615 versus the prior month.
For the 2025-03-01 period, Buffalo had 745 MLS listings, a difference of -150 listings (-17%) versus the prior month and -16 listings (-2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Buffalo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 68 days | 1,634 sqft |
| 2018-02-01 | 60 days | 1,647 sqft |
| 2018-03-01 | 40 days | 1,667 sqft |
| 2018-04-01 | 32 days | 1,701 sqft |
| 2018-05-01 | 26 days | 1,716 sqft |
| 2018-06-01 | 31 days | 1,715 sqft |
| 2018-07-01 | 35 days | 1,726 sqft |
| 2018-08-01 | 38 days | 1,737 sqft |
| 2018-09-01 | 45 days | 1,741 sqft |
| 2018-10-01 | 49 days | 1,728 sqft |
| 2018-11-01 | 54 days | 1,709 sqft |
| 2018-12-01 | 60 days | 1,684 sqft |
| 2019-01-01 | 67 days | 1,650 sqft |
| 2019-02-01 | 67 days | 1,667 sqft |
| 2019-03-01 | 49 days | 1,702 sqft |
| 2019-04-01 | 39 days | 1,737 sqft |
| 2019-05-01 | 34 days | 1,775 sqft |
| 2019-06-01 | 33 days | 1,768 sqft |
| 2019-07-01 | 37 days | 1,750 sqft |
| 2019-08-01 | 39 days | 1,722 sqft |
| 2019-09-01 | 42 days | 1,705 sqft |
| 2019-10-01 | 45 days | 1,688 sqft |
| 2019-11-01 | 57 days | 1,641 sqft |
| 2019-12-01 | 72 days | 1,634 sqft |
| 2020-01-01 | 81 days | 1,639 sqft |
| 2020-02-01 | 67 days | 1,659 sqft |
| 2020-03-01 | 55 days | 1,646 sqft |
| 2020-04-01 | 64 days | 1,690 sqft |
| 2020-05-01 | 68 days | 1,730 sqft |
| 2020-06-01 | 42 days | 1,734 sqft |
| 2020-07-01 | 34 days | 1,730 sqft |
| 2020-08-01 | 34 days | 1,704 sqft |
| 2020-09-01 | 37 days | 1,684 sqft |
| 2020-10-01 | 45 days | 1,632 sqft |
| 2020-11-01 | 57 days | 1,648 sqft |
| 2020-12-01 | 70 days | 1,633 sqft |
| 2021-01-01 | 77 days | 1,630 sqft |
| 2021-02-01 | 56 days | 1,615 sqft |
| 2021-03-01 | 41 days | 1,620 sqft |
| 2021-04-01 | 32 days | 1,658 sqft |
| 2021-05-01 | 26 days | 1,652 sqft |
| 2021-06-01 | 23 days | 1,643 sqft |
| 2021-07-01 | 26 days | 1,659 sqft |
| 2021-08-01 | 30 days | 1,639 sqft |
| 2021-09-01 | 40 days | 1,632 sqft |
| 2021-10-01 | 47 days | 1,610 sqft |
| 2021-11-01 | 49 days | 1,583 sqft |
| 2021-12-01 | 65 days | 1,563 sqft |
| 2022-01-01 | 75 days | 1,527 sqft |
| 2022-02-01 | 65 days | 1,518 sqft |
| 2022-03-01 | 42 days | 1,542 sqft |
| 2022-04-01 | 26 days | 1,556 sqft |
| 2022-05-01 | 21 days | 1,591 sqft |
| 2022-06-01 | 21 days | 1,591 sqft |
| 2022-07-01 | 30 days | 1,624 sqft |
| 2022-08-01 | 36 days | 1,616 sqft |
| 2022-09-01 | 45 days | 1,586 sqft |
| 2022-10-01 | 52 days | 1,587 sqft |
| 2022-11-01 | 53 days | 1,589 sqft |
| 2022-12-01 | 61 days | 1,585 sqft |
| 2023-01-01 | 71 days | 1,578 sqft |
| 2023-02-01 | 62 days | 1,555 sqft |
| 2023-03-01 | 45 days | 1,574 sqft |
| 2023-04-01 | 40 days | 1,584 sqft |
| 2023-05-01 | 30 days | 1,607 sqft |
| 2023-06-01 | 31 days | 1,642 sqft |
| 2023-07-01 | 38 days | 1,616 sqft |
| 2023-08-01 | 39 days | 1,601 sqft |
| 2023-09-01 | 39 days | 1,600 sqft |
| 2023-10-01 | 39 days | 1,586 sqft |
| 2023-11-01 | 45 days | 1,606 sqft |
| 2023-12-01 | 59 days | 1,589 sqft |
| 2024-01-01 | 68 days | 1,607 sqft |
| 2024-02-01 | 67 days | 1,594 sqft |
| 2024-03-01 | 38 days | 1,603 sqft |
| 2024-04-01 | 34 days | 1,609 sqft |
| 2024-05-01 | 26 days | 1,634 sqft |
| 2024-06-01 | 29 days | 1,605 sqft |
| 2024-07-01 | 38 days | 1,596 sqft |
| 2024-08-01 | 39 days | 1,590 sqft |
| 2024-09-01 | 40 days | 1,578 sqft |
| 2024-10-01 | 42 days | 1,557 sqft |
| 2024-11-01 | 47 days | 1,546 sqft |
| 2024-12-01 | 61 days | 1,536 sqft |
| 2025-01-01 | 71 days | 1,525 sqft |
| 2025-02-01 | 79 days | 1,528 sqft |
| 2025-03-01 | 0 days | 1,544 sqft |
Buffalo's median square footage for active listings during the 2025-03-01 period was 1,544 sqft. One year prior, the average listing was 1,603 sqft.