Miami USDA Loan Rates, Closing Costs & Stats

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 USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Miami averaged 6.69% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.72% and one month ago for the week of 2024-03-08, the average rate was 6.48%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.19%.

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
Miami's median listing price for 2024-03-01 was $549,000, a difference of $-50,444 (-8.4%) versus the prior year and $-1,000 versus the prior month.

Miami's median listing price comes in at 129% of the national average.

Miami's average listing price for 2024-03-01 was $1,373,035, a difference of $-148,172 (-9.7%) versus the prior year and $-44,727 versus the prior month.

For the 2024-03-01 period, Miami had 36,367 MLS listings, a difference of 1,396 listings (4%) versus the prior month and 11,831 listings (48%) 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 1,375 sqft
2024-03-01 58 days 1,362 sqft
Miami's median listing age (time on market) for 2024-03-01 was 58 days. This is -3% shorter than the same period one year ago.

Miami's median square footage for active listings during the 2024-03-01 period was 1,362 sqft. One year prior, the average listing was 1,459 sqft.