Miami USDA Loans

Miami-Fort Lauderdale-Pompano Beach, 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.

Miami's 1 lenders originated 26 USDA loans during 2021. The total origination value was $13,440,000, with an average USDA loan value of $516,923.

Miami USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Miami averaged 5.22% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.44% and one month ago for the week of 2022-07-01, the average rate was 5.87%.

The average rate one year ago was 3.26%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.35%.

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 and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Miami level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
First Guaranty Mortgage Corporation 1 3.13% $7,748

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 $396,156 (4.3%) $918,614 (2.8%) 1.46 47,888
2018-02-01 $395,000 (3.4%) $918,452 (2.8%) 1.42 48,934
2018-03-01 $398,000 (2.3%) $919,255 (2.2%) 1.38 49,490
2018-04-01 $399,000 (2.3%) $919,912 (0.6%) 1.34 49,075
2018-05-01 $399,700 (1.2%) $916,176 (-0.2%) 1.33 48,034
2018-06-01 $399,999 (2.6%) $911,815 (0.5%) 1.33 47,153
2018-07-01 $399,900 (0.2%) $905,816 (0.6%) 1.33 46,869
2018-08-01 $399,250 (0.6%) $898,559 (0.0%) 1.33 46,483
2018-09-01 $399,000 (0.5%) $896,427 (-0.8%) 1.33 46,852
2018-10-01 $399,000 (1.0%) $903,016 (0.3%) 1.33 48,425
2018-11-01 $398,000 (0.3%) $908,836 (0.4%) 1.33 50,373
2018-12-01 $395,000 (0.0%) $917,567 (0.5%) 1.35 51,461
2019-01-01 $395,000 (-0.3%) $919,360 (0.1%) 1.36 52,278
2019-02-01 $395,000 (0.0%) $923,299 (0.5%) 1.32 54,082
2019-03-01 $398,285 (0.1%) $930,975 (1.3%) 1.30 53,304
2019-04-01 $400,000 (0.3%) $942,457 (2.5%) 1.26 51,880
2019-05-01 $409,500 (2.5%) $946,388 (3.3%) 1.26 50,393
2019-06-01 $410,000 (2.5%) $940,863 (3.2%) 1.26 48,676
2019-07-01 $410,000 (2.5%) $927,931 (2.4%) 1.27 47,062
2019-08-01 $406,996 (1.9%) $927,093 (3.2%) 1.28 45,954
2019-09-01 $402,199 (0.8%) $932,917 (4.1%) 1.28 45,034
2019-10-01 $409,950 (2.7%) $950,708 (5.3%) 1.31 45,856
2019-11-01 $411,648 (3.4%) $976,683 (7.5%) 1.33 46,837
2019-12-01 $411,328 (4.1%) $1,000,574 (9.1%) 1.37 46,952
2020-01-01 $411,000 (4.1%) $1,011,537 (10.0%) 1.37 45,959
2020-02-01 $415,000 (5.1%) $1,015,586 (10.0%) 1.34 46,345
2020-03-01 $417,420 (4.8%) $1,019,233 (9.5%) 1.30 46,202
2020-04-01 $399,450 (-0.1%) $971,050 (3.0%) 1.24 45,487
2020-05-01 $399,000 (-2.6%) $969,464 (2.4%) 1.21 44,864
2020-06-01 $402,500 (-1.8%) $987,712 (5.0%) 1.18 43,617
2020-07-01 $410,000 (0.0%) $1,007,234 (8.6%) 1.17 41,127
2020-08-01 $410,000 (0.7%) $1,012,514 (9.2%) 1.17 39,893
2020-09-01 $419,000 (4.2%) $1,041,235 (11.6%) 1.20 38,783
2020-10-01 $419,900 (2.4%) $1,053,210 (10.8%) 1.20 38,193
2020-11-01 $415,000 (0.8%) $1,047,388 (7.2%) 1.19 37,904
2020-12-01 $415,000 (0.9%) $1,058,106 (5.8%) 1.22 36,745
2021-01-01 $400,000 (-2.7%) $1,048,760 (3.7%) 1.18 34,030
2021-02-01 $399,000 (-3.9%) $1,063,442 (4.7%) 1.15 30,964
2021-03-01 $399,750 (-4.2%) $1,089,053 (6.9%) 1.12 27,219
2021-04-01 $417,450 (4.5%) $1,103,545 (13.6%) 1.12 24,319
2021-05-01 $430,000 (7.8%) $1,158,702 (19.5%) 1.13 21,962
2021-06-01 $449,750 (11.7%) $1,207,559 (22.3%) 1.17 20,816
2021-07-01 $458,950 (11.9%) $1,201,378 (19.3%) 1.19 21,067
2021-08-01 $462,450 (12.8%) $1,216,657 (20.2%) 1.22 20,996
2021-09-01 $472,400 (12.7%) $1,250,256 (20.1%) 1.24 20,451
2021-10-01 $480,000 (14.3%) $1,301,294 (23.6%) 1.26 19,637
2021-11-01 $487,000 (17.4%) $1,364,494 (30.3%) 1.28 18,469
2021-12-01 $495,000 (19.3%) $1,400,791 (32.4%) 1.32 17,232
2022-01-01 $499,000 (24.8%) $1,460,755 (39.3%) 1.33 15,526
2022-02-01 $525,000 (31.6%) $1,575,652 (48.2%) 1.34 13,704
2022-03-01 $547,500 (37.0%) $1,660,175 (52.4%) 1.35 13,191
2022-04-01 $585,000 (40.1%) $1,706,391 (54.6%) 1.38 12,994
2022-05-01 $627,450 (45.9%) $1,708,104 (47.4%) 1.40 14,902
2022-06-01 $630,000 (40.1%) $1,602,030 (32.7%) 1.40 17,515
Miami's median listing price for 2022-06-01 was $630,000, a difference of $180,250 (40.1%) versus the prior year and $2,550 versus the prior month.

Miami's median listing price comes in at 140% of the national average.

Miami's average listing price for 2022-06-01 was $1,602,030, a difference of $394,471 (32.7%) versus the prior year and $-106,074 versus the prior month.

For the 2022-06-01 period, Miami had 17,515 MLS listings, a difference of 2,613 listings (18%) versus the prior month and -3,301 listings (-16%) 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 90 days 1,508 sqft
2018-02-01 88 days 1,510 sqft
2018-03-01 82 days 1,511 sqft
2018-04-01 83 days 1,520 sqft
2018-05-01 86 days 1,521 sqft
2018-06-01 89 days 1,529 sqft
2018-07-01 92 days 1,529 sqft
2018-08-01 93 days 1,526 sqft
2018-09-01 93 days 1,522 sqft
2018-10-01 89 days 1,520 sqft
2018-11-01 87 days 1,524 sqft
2018-12-01 88 days 1,522 sqft
2019-01-01 93 days 1,520 sqft
2019-02-01 92 days 1,523 sqft
2019-03-01 87 days 1,531 sqft
2019-04-01 85 days 1,543 sqft
2019-05-01 90 days 1,549 sqft
2019-06-01 93 days 1,550 sqft
2019-07-01 96 days 1,548 sqft
2019-08-01 98 days 1,541 sqft
2019-09-01 99 days 1,532 sqft
2019-10-01 94 days 1,530 sqft
2019-11-01 91 days 1,530 sqft
2019-12-01 88 days 1,522 sqft
2020-01-01 92 days 1,520 sqft
2020-02-01 89 days 1,508 sqft
2020-03-01 84 days 1,504 sqft
2020-04-01 90 days 1,485 sqft
2020-05-01 103 days 1,477 sqft
2020-06-01 113 days 1,457 sqft
2020-07-01 118 days 1,426 sqft
2020-08-01 92 days 1,409 sqft
2020-09-01 92 days 1,389 sqft
2020-10-01 91 days 1,385 sqft
2020-11-01 91 days 1,380 sqft
2020-12-01 91 days 1,368 sqft
2021-01-01 94 days 1,345 sqft
2021-02-01 88 days 1,306 sqft
2021-03-01 76 days 1,296 sqft
2021-04-01 71 days 1,304 sqft
2021-05-01 65 days 1,318 sqft
2021-06-01 60 days 1,348 sqft
2021-07-01 58 days 1,369 sqft
2021-08-01 58 days 1,373 sqft
2021-09-01 59 days 1,377 sqft
2021-10-01 59 days 1,383 sqft
2021-11-01 59 days 1,383 sqft
2021-12-01 60 days 1,376 sqft
2022-01-01 65 days 1,366 sqft
2022-02-01 54 days 1,375 sqft
2022-03-01 43 days 1,395 sqft
2022-04-01 43 days 1,442 sqft
2022-05-01 37 days 1,496 sqft
2022-06-01 38 days 1,507 sqft
Miami's median listing age (time on market) for 2022-06-01 was 38 days. This is -36% shorter than the same period one year ago.

Miami's median square footage for active listings during the 2022-06-01 period was 1,507 sqft. One year prior, the average listing was 1,348 sqft.