Key West USDA Loan Rates, Closing Costs & Stats

Key West, FL

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.

Key West's 0 lenders originated 1 USDA loans during 2021. The total origination value was $265,000, with an average USDA loan value of $265,000.

Key West USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Key West averaged 6.48% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Key West's average USDA mortgage closing costs are $0.

The average rate for the prior week (2022-11-25) was 6.72% and one month ago for the week of 2022-10-28, the average rate was 7.09%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.03%.

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

Key West 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 Key West level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Key West (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 $706,250 (14.3%) $1,328,463 (25.9%) 0.00 1,488
2018-02-01 $699,625 (12.6%) $1,344,763 (27.4%) 0.00 1,534
2018-03-01 $699,000 (11.6%) $1,343,708 (27.0%) 0.00 1,617
2018-04-01 $699,500 (5.2%) $1,353,459 (12.8%) 0.00 1,632
2018-05-01 $699,000 (3.6%) $1,341,179 (11.7%) 0.00 1,596
2018-06-01 $699,000 (3.0%) $1,323,516 (8.1%) 0.00 1,589
2018-07-01 $699,000 (3.6%) $1,314,883 (5.9%) 0.00 1,612
2018-08-01 $699,000 (4.2%) $1,315,302 (5.7%) 0.00 1,583
2018-09-01 $699,000 (3.6%) $1,314,027 (4.7%) 0.00 1,549
2018-10-01 $699,000 (3.9%) $1,301,581 (0.8%) 0.00 1,592
2018-11-01 $732,000 (4.7%) $1,325,607 (1.0%) 0.00 1,720
2018-12-01 $729,000 (4.3%) $1,325,739 (1.2%) 0.00 1,826
2019-01-01 $728,625 (3.2%) $1,311,733 (-1.3%) 0.00 1,933
2019-02-01 $722,500 (3.3%) $1,293,865 (-3.8%) 0.00 2,018
2019-03-01 $735,286 (5.2%) $1,308,246 (-2.6%) 0.00 1,971
2019-04-01 $749,000 (7.1%) $1,326,791 (-2.0%) 0.00 1,891
2019-05-01 $769,000 (10.0%) $1,370,566 (2.2%) 0.00 1,799
2019-06-01 $750,000 (7.3%) $1,355,862 (2.4%) 0.00 1,734
2019-07-01 $759,500 (8.7%) $1,366,479 (3.9%) 0.00 1,692
2019-08-01 $780,345 (11.6%) $1,397,279 (6.2%) 0.00 1,608
2019-09-01 $788,589 (12.8%) $1,438,593 (9.5%) 0.00 1,508
2019-10-01 $794,750 (13.7%) $1,474,232 (13.3%) 0.00 1,432
2019-11-01 $799,000 (9.2%) $1,484,531 (12.0%) 0.00 1,503
2019-12-01 $799,000 (9.6%) $1,500,169 (13.2%) 0.00 1,616
2020-01-01 $802,450 (10.1%) $1,515,756 (15.6%) 0.00 1,649
2020-02-01 $799,000 (10.6%) $1,485,200 (14.8%) 0.00 1,747
2020-03-01 $799,500 (8.7%) $1,505,811 (15.1%) 0.00 1,754
2020-04-01 $799,000 (6.7%) $1,490,622 (12.4%) 0.00 1,677
2020-05-01 $799,000 (3.9%) $1,512,569 (10.4%) 0.00 1,609
2020-06-01 $799,450 (6.6%) $1,534,510 (13.2%) 0.00 1,495
2020-07-01 $823,750 (8.5%) $1,589,979 (16.4%) 0.00 1,384
2020-08-01 $849,000 (8.8%) $1,629,623 (16.6%) 0.00 1,232
2020-09-01 $867,000 (9.9%) $1,666,754 (15.9%) 0.00 1,185
2020-10-01 $849,250 (6.9%) $1,693,184 (14.9%) 0.00 1,150
2020-11-01 $875,000 (9.5%) $1,734,056 (16.8%) 0.00 1,099
2020-12-01 $857,000 (7.3%) $1,749,362 (16.6%) 0.00 1,043
2021-01-01 $864,000 (7.7%) $1,804,015 (19.0%) 0.00 977
2021-02-01 $860,000 (7.6%) $1,797,728 (21.0%) 0.00 812
2021-03-01 $878,750 (9.9%) $1,803,779 (19.8%) 0.00 699
2021-04-01 $893,125 (11.8%) $1,905,451 (27.8%) 0.00 594
2021-05-01 $995,000 (24.5%) $2,032,472 (34.4%) 0.00 512
2021-06-01 $1,051,250 (31.5%) $2,070,126 (34.9%) 0.00 512
2021-07-01 $1,100,000 (33.5%) $2,107,807 (32.6%) 0.00 517
2021-08-01 $1,113,257 (31.1%) $2,061,570 (26.5%) 0.00 530
2021-09-01 $1,161,000 (33.9%) $2,102,077 (26.1%) 0.00 545
2021-10-01 $1,162,500 (36.9%) $2,046,936 (20.9%) 0.00 543
2021-11-01 $1,206,250 (37.9%) $2,128,440 (22.7%) 0.00 525
2021-12-01 $1,200,000 (40.0%) $2,112,171 (20.7%) 0.00 499
2022-01-01 $1,229,000 (42.3%) $2,102,233 (16.5%) 0.00 486
2022-02-01 $1,311,000 (52.4%) $2,130,723 (18.5%) 0.00 456
2022-03-01 $1,275,000 (45.1%) $2,138,833 (18.6%) 0.00 445
2022-04-01 $1,295,000 (45.0%) $2,108,246 (10.6%) 0.00 436
2022-05-01 $1,362,500 (36.9%) $2,514,157 (23.7%) 0.00 500
2022-06-01 $1,325,000 (26.0%) $2,549,680 (23.2%) 0.00 545
2022-07-01 $1,299,000 (18.1%) $2,470,506 (17.2%) 0.00 622
2022-08-01 $1,289,250 (15.8%) $2,383,664 (15.6%) 0.00 656
2022-09-01 $1,262,500 (8.7%) $2,396,227 (14.0%) 0.00 660
2022-10-01 $1,299,000 (11.7%) $2,425,642 (18.5%) 0.00 662
2022-11-01 $1,350,000 (11.9%) $2,425,276 (14.0%) 0.00 722
Key West's median listing price for 2022-11-01 was $1,350,000, a difference of $143,750 (11.9%) versus the prior year and $51,000 versus the prior month.

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

Key West's average listing price for 2022-11-01 was $2,425,276, a difference of $296,836 (14.0%) versus the prior year and $-366 versus the prior month.

For the 2022-11-01 period, Key West had 722 MLS listings, a difference of 60 listings (9%) versus the prior month and 197 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Key West (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,500 sqft
2018-02-01 0 days 1,500 sqft
2018-03-01 0 days 1,500 sqft
2018-04-01 0 days 1,501 sqft
2018-05-01 0 days 1,492 sqft
2018-06-01 0 days 1,494 sqft
2018-07-01 0 days 1,495 sqft
2018-08-01 0 days 1,494 sqft
2018-09-01 0 days 1,491 sqft
2018-10-01 0 days 1,480 sqft
2018-11-01 0 days 1,498 sqft
2018-12-01 0 days 1,484 sqft
2019-01-01 0 days 1,493 sqft
2019-02-01 0 days 1,510 sqft
2019-03-01 0 days 1,526 sqft
2019-04-01 0 days 1,550 sqft
2019-05-01 0 days 1,564 sqft
2019-06-01 0 days 1,531 sqft
2019-07-01 0 days 1,526 sqft
2019-08-01 0 days 1,539 sqft
2019-09-01 0 days 1,555 sqft
2019-10-01 0 days 1,571 sqft
2019-11-01 0 days 1,580 sqft
2019-12-01 0 days 1,574 sqft
2020-01-01 0 days 1,582 sqft
2020-02-01 0 days 1,570 sqft
2020-03-01 0 days 1,573 sqft
2020-04-01 0 days 1,565 sqft
2020-05-01 0 days 1,552 sqft
2020-06-01 0 days 1,553 sqft
2020-07-01 0 days 1,545 sqft
2020-08-01 0 days 1,551 sqft
2020-09-01 0 days 1,550 sqft
2020-10-01 0 days 1,522 sqft
2020-11-01 0 days 1,515 sqft
2020-12-01 0 days 1,494 sqft
2021-01-01 0 days 1,504 sqft
2021-02-01 0 days 1,475 sqft
2021-03-01 0 days 1,479 sqft
2021-04-01 0 days 1,533 sqft
2021-05-01 0 days 1,650 sqft
2021-06-01 0 days 1,667 sqft
2021-07-01 0 days 1,600 sqft
2021-08-01 0 days 1,589 sqft
2021-09-01 0 days 1,587 sqft
2021-10-01 0 days 1,562 sqft
2021-11-01 0 days 1,565 sqft
2021-12-01 0 days 1,555 sqft
2022-01-01 0 days 1,550 sqft
2022-02-01 0 days 1,643 sqft
2022-03-01 0 days 1,599 sqft
2022-04-01 0 days 1,595 sqft
2022-05-01 0 days 1,621 sqft
2022-06-01 0 days 1,585 sqft
2022-07-01 0 days 1,536 sqft
2022-08-01 0 days 1,543 sqft
2022-09-01 0 days 1,528 sqft
2022-10-01 0 days 1,528 sqft
2022-11-01 0 days 1,524 sqft
Key West's median listing age (time on market) for 2022-11-01 was 0 days.

Key West's median square footage for active listings during the 2022-11-01 period was 1,524 sqft. One year prior, the average listing was 1,565 sqft.