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 USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Miami averaged 0.19% for the week of 2024-11-15, compared to the national average (all USDA variants) of 0% for the same period.

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

    The average rate for the prior week (2024-11-08) was 6.34% and one month ago for the week of 2024-10-11, the average rate was 6.3%.

    The average rate one year ago was 7.53%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.08%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs

    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%) $877,777 (3.0%) 1.45 46,965
    2018-02-01 $389,950 (3.4%) $875,940 (2.6%) 1.42 48,000
    2018-03-01 $394,900 (3.3%) $877,243 (2.1%) 1.39 48,472
    2018-04-01 $397,250 (3.2%) $878,487 (1.5%) 1.35 48,105
    2018-05-01 $399,000 (2.7%) $877,971 (0.5%) 1.33 47,079
    2018-06-01 $399,000 (3.2%) $876,877 (1.6%) 1.33 46,265
    2018-07-01 $399,000 (2.2%) $872,035 (1.4%) 1.33 45,954
    2018-08-01 $398,750 (2.0%) $864,389 (0.0%) 1.34 45,632
    2018-09-01 $397,500 (1.9%) $862,917 (-0.7%) 1.34 46,077
    2018-10-01 $395,000 (1.4%) $865,206 (0.5%) 1.34 47,540
    2018-11-01 $395,000 (1.3%) $870,007 (0.6%) 1.34 49,385
    2018-12-01 $390,000 (0.0%) $876,847 (1.0%) 1.35 50,359
    2019-01-01 $390,000 (0.0%) $877,182 (-0.1%) 1.35 51,137
    2019-02-01 $390,000 (0.0%) $880,033 (0.5%) 1.32 52,897
    2019-03-01 $393,857 (-0.3%) $880,719 (0.4%) 1.29 52,211
    2019-04-01 $399,000 (0.4%) $885,981 (0.9%) 1.27 50,838
    2019-05-01 $399,900 (0.2%) $894,521 (1.9%) 1.25 49,415
    2019-06-01 $399,993 (0.3%) $888,854 (1.4%) 1.25 47,726
    2019-07-01 $400,000 (0.3%) $884,100 (1.4%) 1.25 46,161
    2019-08-01 $399,727 (0.3%) $881,518 (2.0%) 1.27 45,587
    2019-09-01 $399,318 (0.5%) $884,240 (2.5%) 1.28 45,049
    2019-10-01 $399,295 (1.1%) $890,757 (3.0%) 1.29 44,969
    2019-11-01 $399,900 (1.2%) $914,850 (5.2%) 1.31 45,819
    2019-12-01 $399,900 (2.5%) $928,958 (5.9%) 1.33 45,643
    2020-01-01 $399,000 (2.3%) $936,963 (6.8%) 1.33 44,972
    2020-02-01 $399,900 (2.5%) $942,047 (7.1%) 1.31 45,470
    2020-03-01 $399,950 (1.6%) $943,092 (7.1%) 1.25 45,265
    2020-04-01 $395,000 (-1.0%) $909,526 (2.7%) 1.24 44,428
    2020-05-01 $390,000 (-2.5%) $914,374 (2.2%) 1.19 43,836
    2020-06-01 $399,000 (-0.3%) $928,947 (4.5%) 1.18 42,714
    2020-07-01 $399,450 (-0.1%) $951,359 (7.6%) 1.16 40,285
    2020-08-01 $399,900 (0.0%) $962,177 (9.2%) 1.15 39,106
    2020-09-01 $400,000 (0.2%) $977,488 (10.6%) 1.15 38,034
    2020-10-01 $405,000 (1.4%) $988,910 (11.0%) 1.16 37,485
    2020-11-01 $400,000 (0.0%) $988,828 (8.1%) 1.17 37,076
    2020-12-01 $399,999 (0.0%) $994,355 (7.0%) 1.19 35,993
    2021-01-01 $399,000 (0.0%) $986,024 (5.2%) 1.19 33,467
    2021-02-01 $396,000 (-1.0%) $1,001,349 (6.3%) 1.15 30,510
    2021-03-01 $398,750 (-0.3%) $1,025,276 (8.7%) 1.13 26,860
    2021-04-01 $412,000 (4.3%) $1,061,309 (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%) $1,163,875 (25.3%) 1.18 20,632
    2021-07-01 $455,500 (14.0%) $1,159,295 (21.9%) 1.20 20,962
    2021-08-01 $459,500 (14.9%) $1,176,863 (22.3%) 1.23 20,831
    2021-09-01 $467,450 (16.9%) $1,208,002 (23.6%) 1.25 20,297
    2021-10-01 $479,850 (18.5%) $1,260,576 (27.5%) 1.28 19,456
    2021-11-01 $482,500 (20.6%) $1,304,770 (32.0%) 1.29 18,302
    2021-12-01 $492,500 (23.1%) $1,343,496 (35.1%) 1.33 17,025
    2022-01-01 $495,000 (24.1%) $1,399,371 (41.9%) 1.34 15,401
    2022-02-01 $522,450 (31.9%) $1,501,636 (50.0%) 1.36 13,563
    2022-03-01 $544,500 (36.6%) $1,566,457 (52.8%) 1.36 13,063
    2022-04-01 $577,000 (40.1%) $1,616,168 (52.3%) 1.38 12,824
    2022-05-01 $622,000 (45.0%) $1,623,263 (45.4%) 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%) $1,432,579 (23.6%) 1.40 21,070
    2022-08-01 $604,000 (31.5%) $1,406,924 (19.6%) 1.40 22,462
    2022-09-01 $599,000 (28.1%) $1,393,945 (15.4%) 1.40 22,559
    2022-10-01 $599,000 (24.8%) $1,407,112 (11.6%) 1.41 23,833
    2022-11-01 $599,000 (24.2%) $1,431,246 (9.7%) 1.44 25,517
    2022-12-01 $595,000 (20.8%) $1,461,330 (8.8%) 1.47 25,912
    2023-01-01 $595,000 (20.2%) $1,473,844 (5.3%) 1.47 25,920
    2023-02-01 $599,000 (14.7%) $1,503,920 (0.2%) 1.45 25,462
    2023-03-01 $599,444 (10.1%) $1,521,207 (-2.9%) 1.41 24,536
    2023-04-01 $605,000 (4.9%) $1,570,111 (-2.9%) 1.41 23,340
    2023-05-01 $607,598 (-2.3%) $1,579,899 (-2.7%) 1.38 22,854
    2023-06-01 $604,848 (-3.2%) $1,548,211 (1.1%) 1.36 22,583
    2023-07-01 $600,995 (-3.1%) $1,497,098 (4.5%) 1.37 22,403
    2023-08-01 $600,000 (-0.7%) $1,468,712 (4.4%) 1.38 22,488
    2023-09-01 $599,000 (0.0%) $1,445,209 (3.7%) 1.39 24,077
    2023-10-01 $598,500 (-0.1%) $1,453,940 (3.3%) 1.41 26,415
    2023-11-01 $594,973 (-0.7%) $1,473,559 (3.0%) 1.42 29,158
    2023-12-01 $579,900 (-2.5%) $1,467,078 (0.4%) 1.41 30,835
    2024-01-01 $564,500 (-5.1%) $1,460,653 (-0.9%) 1.38 32,515
    2024-02-01 $550,000 (-8.2%) $1,417,762 (-5.7%) 1.32 34,971
    2024-03-01 $549,000 (-8.4%) $1,373,035 (-9.7%) 1.29 36,367
    2024-04-01 $540,000 (-10.7%) $1,335,177 (-15.0%) 1.26 36,957
    2024-05-01 $539,450 (-11.2%) $1,328,676 (-15.9%) 1.22 37,425
    2024-06-01 $535,000 (-11.6%) $1,274,959 (-17.7%) 1.20 37,869
    2024-07-01 $535,000 (-11.0%) $1,229,123 (-17.9%) 1.22 38,455
    2024-08-01 $530,000 (-11.7%) $1,208,342 (-17.7%) 1.23 38,724
    2024-09-01 $525,000 (-12.4%) $1,209,341 (-16.3%) 1.24 40,430
    2024-10-01 $525,000 (-12.3%) $1,221,215 (-16.0%) 1.24 41,516
    Miami's median listing price for 2024-10-01 was $525,000, a difference of $-73,500 (-12.3%) versus the prior year and $0 versus the prior month.

    Miami's median listing price comes in at 124% of the national average.

    Miami's average listing price for 2024-10-01 was $1,221,215, a difference of $-232,725 (-16.0%) versus the prior year and $11,874 versus the prior month.

    For the 2024-10-01 period, Miami had 41,516 MLS listings, a difference of 1,086 listings (3%) versus the prior month and 15,101 listings (57%) 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 81 days 1,498 sqft
    2018-02-01 78 days 1,499 sqft
    2018-03-01 72 days 1,500 sqft
    2018-04-01 74 days 1,501 sqft
    2018-05-01 76 days 1,506 sqft
    2018-06-01 79 days 1,515 sqft
    2018-07-01 80 days 1,517 sqft
    2018-08-01 81 days 1,513 sqft
    2018-09-01 81 days 1,510 sqft
    2018-10-01 78 days 1,507 sqft
    2018-11-01 75 days 1,510 sqft
    2018-12-01 79 days 1,507 sqft
    2019-01-01 83 days 1,505 sqft
    2019-02-01 81 days 1,507 sqft
    2019-03-01 79 days 1,512 sqft
    2019-04-01 78 days 1,520 sqft
    2019-05-01 81 days 1,526 sqft
    2019-06-01 85 days 1,527 sqft
    2019-07-01 86 days 1,530 sqft
    2019-08-01 86 days 1,524 sqft
    2019-09-01 86 days 1,516 sqft
    2019-10-01 85 days 1,508 sqft
    2019-11-01 81 days 1,506 sqft
    2019-12-01 84 days 1,500 sqft
    2020-01-01 87 days 1,499 sqft
    2020-02-01 82 days 1,488 sqft
    2020-03-01 74 days 1,485 sqft
    2020-04-01 82 days 1,461 sqft
    2020-05-01 94 days 1,450 sqft
    2020-06-01 103 days 1,437 sqft
    2020-07-01 96 days 1,406 sqft
    2020-08-01 82 days 1,389 sqft
    2020-09-01 81 days 1,381 sqft
    2020-10-01 81 days 1,376 sqft
    2020-11-01 79 days 1,366 sqft
    2020-12-01 81 days 1,357 sqft
    2021-01-01 83 days 1,334 sqft
    2021-02-01 75 days 1,303 sqft
    2021-03-01 64 days 1,293 sqft
    2021-04-01 60 days 1,296 sqft
    2021-05-01 56 days 1,312 sqft
    2021-06-01 53 days 1,341 sqft
    2021-07-01 52 days 1,361 sqft
    2021-08-01 53 days 1,365 sqft
    2021-09-01 54 days 1,369 sqft
    2021-10-01 55 days 1,376 sqft
    2021-11-01 56 days 1,376 sqft
    2021-12-01 58 days 1,366 sqft
    2022-01-01 61 days 1,356 sqft
    2022-02-01 48 days 1,364 sqft
    2022-03-01 40 days 1,387 sqft
    2022-04-01 40 days 1,435 sqft
    2022-05-01 36 days 1,488 sqft
    2022-06-01 37 days 1,500 sqft
    2022-07-01 40 days 1,512 sqft
    2022-08-01 49 days 1,513 sqft
    2022-09-01 57 days 1,515 sqft
    2022-10-01 60 days 1,518 sqft
    2022-11-01 61 days 1,516 sqft
    2022-12-01 66 days 1,500 sqft
    2023-01-01 72 days 1,488 sqft
    2023-02-01 67 days 1,472 sqft
    2023-03-01 60 days 1,459 sqft
    2023-04-01 63 days 1,452 sqft
    2023-05-01 63 days 1,442 sqft
    2023-06-01 62 days 1,441 sqft
    2023-07-01 64 days 1,434 sqft
    2023-08-01 62 days 1,426 sqft
    2023-09-01 58 days 1,417 sqft
    2023-10-01 56 days 1,422 sqft
    2023-11-01 57 days 1,425 sqft
    2023-12-01 61 days 1,406 sqft
    2024-01-01 68 days 1,394 sqft
    2024-02-01 62 days 1,376 sqft
    2024-03-01 58 days 1,363 sqft
    2024-04-01 64 days 1,353 sqft
    2024-05-01 64 days 1,344 sqft
    2024-06-01 67 days 1,343 sqft
    2024-07-01 73 days 1,344 sqft
    2024-08-01 74 days 1,340 sqft
    2024-09-01 73 days 1,335 sqft
    2024-10-01 74 days 1,336 sqft
    Miami's median listing age (time on market) for 2024-10-01 was 74 days. This is 31% longer than the same period one year ago.

    Miami's median square footage for active listings during the 2024-10-01 period was 1,336 sqft. One year prior, the average listing was 1,422 sqft.