Miami USDA Loan Rates, Closing Costs & Stats

Miami-Fort Lauderdale-Pompano Beach, FL

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    • 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.

    Miami's 1 lenders originated 1 USDA loans during 2022. The total origination value was $155,000, with an average USDA loan value of $155,000.

    Miami USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Miami averaged 6.24% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Miami's average USDA mortgage closing costs are $6,810.

    The average rate for the prior week (2023-05-19) was 6.18% and one month ago for the week of 2023-04-21, the average rate was 6.19%.

    The average rate one year ago was 4.81%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.37%.

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

    Miami 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 Miami level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 1 4.50% $6,732

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Miami (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 $390,000 (4.0%) $877,935 (3.0%) 1.45 46,964
    2018-02-01 $389,950 (3.4%) $876,129 (2.7%) 1.42 48,000
    2018-03-01 $394,900 (3.3%) $877,399 (2.1%) 1.39 48,471
    2018-04-01 $397,250 (3.2%) $878,632 (1.5%) 1.35 48,104
    2018-05-01 $399,000 (2.7%) $878,105 (0.5%) 1.33 47,080
    2018-06-01 $399,000 (3.4%) $877,009 (1.6%) 1.33 46,266
    2018-07-01 $399,000 (2.3%) $872,126 (1.4%) 1.33 45,956
    2018-08-01 $398,750 (2.0%) $864,515 (0.0%) 1.34 45,634
    2018-09-01 $397,995 (1.5%) $863,016 (-0.7%) 1.34 46,079
    2018-10-01 $395,000 (1.4%) $865,287 (0.5%) 1.34 47,545
    2018-11-01 $395,000 (1.3%) $870,100 (0.6%) 1.34 49,390
    2018-12-01 $390,000 (0.0%) $876,931 (0.9%) 1.35 50,364
    2019-01-01 $390,000 (0.0%) $877,285 (-0.1%) 1.35 51,142
    2019-02-01 $390,000 (0.0%) $880,128 (0.5%) 1.32 52,901
    2019-03-01 $395,000 (-0.3%) $882,865 (0.6%) 1.32 52,237
    2019-04-01 $399,000 (0.4%) $886,010 (0.8%) 1.27 50,856
    2019-05-01 $399,900 (0.2%) $894,498 (1.9%) 1.25 49,419
    2019-06-01 $399,995 (0.3%) $888,844 (1.4%) 1.25 47,731
    2019-07-01 $400,000 (0.3%) $886,975 (1.7%) 1.25 46,166
    2019-08-01 $409,000 (0.3%) $891,730 (3.2%) 1.28 45,635
    2019-09-01 $410,000 (0.3%) $910,930 (5.6%) 1.29 42,570
    2019-10-01 $399,250 (1.1%) $890,672 (2.9%) 1.29 44,968
    2019-11-01 $399,900 (1.2%) $914,790 (5.1%) 1.31 45,823
    2019-12-01 $399,900 (2.5%) $928,914 (5.9%) 1.33 45,647
    2020-01-01 $399,000 (2.3%) $936,951 (6.8%) 1.33 44,976
    2020-02-01 $399,900 (2.5%) $942,000 (7.0%) 1.31 45,474
    2020-03-01 $399,950 (1.6%) $943,081 (6.8%) 1.25 45,269
    2020-04-01 $395,000 (-1.0%) $909,506 (2.7%) 1.24 44,432
    2020-05-01 $390,000 (-2.5%) $914,355 (2.2%) 1.19 43,838
    2020-06-01 $399,000 (-0.3%) $928,950 (4.5%) 1.18 42,716
    2020-07-01 $399,450 (-0.1%) $951,359 (7.3%) 1.16 40,288
    2020-08-01 $399,900 (0.0%) $962,157 (7.9%) 1.15 39,108
    2020-09-01 $400,000 (0.2%) $977,447 (7.3%) 1.15 38,036
    2020-10-01 $405,000 (1.4%) $988,906 (11.0%) 1.16 37,486
    2020-11-01 $400,000 (0.0%) $988,807 (8.1%) 1.17 37,078
    2020-12-01 $399,999 (0.0%) $994,308 (7.0%) 1.19 35,995
    2021-01-01 $399,000 (0.0%) $986,032 (5.2%) 1.19 33,468
    2021-02-01 $396,000 (-1.0%) $1,001,374 (6.3%) 1.15 30,512
    2021-03-01 $398,870 (-0.3%) $1,025,109 (8.7%) 1.13 26,860
    2021-04-01 $412,000 (4.3%) $1,061,354 (16.7%) 1.12 24,099
    2021-05-01 $429,000 (10.0%) $1,116,370 (22.1%) 1.14 21,800
    2021-06-01 $449,000 (12.5%) $1,163,701 (25.3%) 1.18 20,633
    2021-07-01 $455,500 (14.0%) $1,159,352 (21.9%) 1.20 20,962
    2021-08-01 $459,500 (14.9%) $1,176,698 (22.3%) 1.23 20,831
    2021-09-01 $467,450 (16.9%) $1,207,975 (23.6%) 1.25 20,298
    2021-10-01 $479,850 (18.5%) $1,260,576 (27.5%) 1.28 19,457
    2021-11-01 $482,500 (20.6%) $1,304,411 (31.9%) 1.29 18,303
    2021-12-01 $492,500 (23.1%) $1,343,472 (35.1%) 1.33 17,026
    2022-01-01 $495,000 (24.1%) $1,399,438 (41.9%) 1.34 15,400
    2022-02-01 $522,450 (31.9%) $1,501,702 (50.0%) 1.36 13,562
    2022-03-01 $544,500 (36.5%) $1,566,647 (52.8%) 1.36 13,063
    2022-04-01 $577,500 (40.2%) $1,616,240 (52.3%) 1.38 12,824
    2022-05-01 $622,000 (45.0%) $1,623,798 (45.5%) 1.42 14,723
    2022-06-01 $625,000 (39.2%) $1,531,062 (31.6%) 1.39 17,323
    2022-07-01 $620,000 (36.1%) $1,432,776 (23.6%) 1.40 21,070
    2022-08-01 $604,500 (31.6%) $1,406,961 (19.6%) 1.40 22,465
    2022-09-01 $599,000 (28.1%) $1,393,974 (15.4%) 1.40 22,562
    2022-10-01 $599,000 (24.8%) $1,407,207 (11.6%) 1.41 23,835
    2022-11-01 $599,000 (24.2%) $1,431,276 (9.7%) 1.44 25,518
    2022-12-01 $595,000 (20.8%) $1,461,211 (8.8%) 1.47 25,913
    2023-01-01 $595,000 (20.2%) $1,471,057 (5.1%) 1.47 25,921
    2023-02-01 $599,000 (14.7%) $1,503,856 (0.1%) 1.45 25,463
    2023-03-01 $599,410 (10.1%) $1,521,375 (-2.9%) 1.41 24,537
    2023-04-01 $605,000 (0.0%) $1,570,044 (-2.9%) 1.41 23,341
    Miami's median listing price for 2023-04-01 was $605,000, a difference of $27,500 (0.0%) versus the prior year and $5,590 versus the prior month.

    Miami's median listing price comes in at 141% of the national average.

    Miami's average listing price for 2023-04-01 was $1,570,044, a difference of $-46,196 (-2.9%) versus the prior year and $48,669 versus the prior month.

    For the 2023-04-01 period, Miami had 23,341 MLS listings, a difference of -1,196 listings (-5%) versus the prior month and 10,517 listings (82%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Miami (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 89 days 1,498 sqft
    2018-02-01 88 days 1,500 sqft
    2018-03-01 81 days 1,500 sqft
    2018-04-01 83 days 1,502 sqft
    2018-05-01 87 days 1,507 sqft
    2018-06-01 89 days 1,515 sqft
    2018-07-01 92 days 1,518 sqft
    2018-08-01 93 days 1,514 sqft
    2018-09-01 93 days 1,510 sqft
    2018-10-01 88 days 1,507 sqft
    2018-11-01 87 days 1,510 sqft
    2018-12-01 89 days 1,508 sqft
    2019-01-01 93 days 1,506 sqft
    2019-02-01 92 days 1,508 sqft
    2019-03-01 88 days 1,513 sqft
    2019-04-01 87 days 1,520 sqft
    2019-05-01 93 days 1,526 sqft
    2019-06-01 95 days 1,527 sqft
    2019-07-01 97 days 1,530 sqft
    2019-08-01 103 days 1,529 sqft
    2019-09-01 107 days 1,521 sqft
    2019-10-01 101 days 1,509 sqft
    2019-11-01 96 days 1,507 sqft
    2019-12-01 98 days 1,500 sqft
    2020-01-01 100 days 1,499 sqft
    2020-02-01 97 days 1,488 sqft
    2020-03-01 94 days 1,485 sqft
    2020-04-01 94 days 1,461 sqft
    2020-05-01 106 days 1,450 sqft
    2020-06-01 116 days 1,437 sqft
    2020-07-01 122 days 1,405 sqft
    2020-08-01 101 days 1,389 sqft
    2020-09-01 99 days 1,381 sqft
    2020-10-01 99 days 1,377 sqft
    2020-11-01 96 days 1,367 sqft
    2020-12-01 99 days 1,358 sqft
    2021-01-01 100 days 1,335 sqft
    2021-02-01 95 days 1,303 sqft
    2021-03-01 84 days 1,293 sqft
    2021-04-01 72 days 1,296 sqft
    2021-05-01 65 days 1,312 sqft
    2021-06-01 60 days 1,341 sqft
    2021-07-01 58 days 1,361 sqft
    2021-08-01 59 days 1,365 sqft
    2021-09-01 60 days 1,369 sqft
    2021-10-01 60 days 1,376 sqft
    2021-11-01 61 days 1,376 sqft
    2021-12-01 62 days 1,365 sqft
    2022-01-01 66 days 1,356 sqft
    2022-02-01 54 days 1,364 sqft
    2022-03-01 43 days 1,387 sqft
    2022-04-01 43 days 1,434 sqft
    2022-05-01 38 days 1,487 sqft
    2022-06-01 39 days 1,500 sqft
    2022-07-01 42 days 1,512 sqft
    2022-08-01 51 days 1,512 sqft
    2022-09-01 58 days 1,513 sqft
    2022-10-01 61 days 1,518 sqft
    2022-11-01 64 days 1,515 sqft
    2022-12-01 68 days 1,500 sqft
    2023-01-01 73 days 1,488 sqft
    2023-02-01 69 days 1,471 sqft
    2023-03-01 63 days 1,459 sqft
    2023-04-01 66 days 1,452 sqft
    Miami's median listing age (time on market) for 2023-04-01 was 66 days. This is 53% longer than the same period one year ago.

    Miami's median square footage for active listings during the 2023-04-01 period was 1,452 sqft. One year prior, the average listing was 1,434 sqft.