Michigan City USDA Loan Rates, Closing Costs & Stats

MICHIGAN CITY-LA PORTE, IN

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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.

    Michigan City's 1 lenders originated 2 USDA loans during 2024. The total origination value was $420,000, with an average USDA loan value of $210,000.

    Michigan City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Michigan City averaged 7.02% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

    Michigan City's average USDA mortgage closing costs are $4,548.

    The average rate for the prior week (2025-05-16) was 6.95% and one month ago for the week of 2025-04-18, the average rate was 6.94%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.75%.

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

    Michigan City 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 Michigan City level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $6,210

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Michigan City (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 $179,900 (37.4%) $285,635 (4.2%) 0.00 316
    2018-02-01 $181,200 (24.8%) $293,424 (2.8%) 0.00 290
    2018-03-01 $209,950 (22.1%) $314,589 (3.6%) 0.00 293
    2018-04-01 $231,450 (25.2%) $318,956 (2.6%) 0.00 297
    2018-05-01 $245,450 (5.4%) $323,876 (-3.8%) 0.00 334
    2018-06-01 $249,900 (6.4%) $343,073 (2.5%) 0.00 353
    2018-07-01 $239,450 (4.2%) $329,026 (-1.2%) 0.00 378
    2018-08-01 $237,300 (1.0%) $316,654 (-4.9%) 0.00 381
    2018-09-01 $234,900 (5.0%) $333,333 (2.7%) 0.00 384
    2018-10-01 $216,763 (3.3%) $320,587 (2.4%) 0.00 390
    2018-11-01 $209,725 (12.7%) $325,362 (8.9%) 0.00 384
    2018-12-01 $199,900 (16.0%) $325,333 (13.3%) 0.00 357
    2019-01-01 $206,425 (14.7%) $335,135 (17.3%) 0.00 318
    2019-02-01 $216,675 (19.6%) $359,656 (22.6%) 0.00 294
    2019-03-01 $219,186 (4.4%) $366,607 (16.5%) 0.00 292
    2019-04-01 $251,550 (8.7%) $373,919 (17.2%) 0.00 283
    2019-05-01 $262,675 (7.0%) $371,816 (14.8%) 0.00 293
    2019-06-01 $277,900 (11.2%) $367,416 (7.1%) 0.00 330
    2019-07-01 $271,375 (13.3%) $372,488 (13.2%) 0.00 346
    2019-08-01 $255,155 (7.5%) $343,514 (8.5%) 0.00 353
    2019-09-01 $249,386 (6.2%) $335,869 (0.8%) 0.00 353
    2019-10-01 $247,216 (14.1%) $332,195 (3.6%) 0.00 349
    2019-11-01 $224,900 (7.2%) $334,062 (2.7%) 0.00 330
    2019-12-01 $204,800 (2.5%) $314,634 (-3.3%) 0.00 313
    2020-01-01 $227,050 (10.0%) $327,416 (-2.3%) 0.00 288
    2020-02-01 $245,000 (13.1%) $339,543 (-5.6%) 0.00 252
    2020-03-01 $267,975 (22.3%) $367,218 (0.2%) 0.00 247
    2020-04-01 $288,975 (14.9%) $387,546 (3.6%) 0.00 235
    2020-05-01 $288,900 (10.0%) $378,959 (1.9%) 0.00 222
    2020-06-01 $288,975 (4.0%) $392,821 (6.9%) 0.00 200
    2020-07-01 $269,500 (-0.7%) $396,389 (6.4%) 0.00 197
    2020-08-01 $259,000 (1.5%) $414,608 (20.7%) 0.00 176
    2020-09-01 $264,225 (6.0%) $429,495 (27.9%) 0.00 167
    2020-10-01 $261,950 (6.0%) $430,142 (29.5%) 0.00 176
    2020-11-01 $259,175 (15.2%) $418,976 (25.4%) 0.00 161
    2020-12-01 $239,900 (17.1%) $403,883 (28.4%) 0.00 149
    2021-01-01 $217,000 (-4.4%) $367,492 (12.2%) 0.00 159
    2021-02-01 $208,450 (-14.9%) $413,293 (21.7%) 0.00 84
    2021-03-01 $237,200 (-11.5%) $447,474 (21.9%) 0.00 87
    2021-04-01 $214,900 (-25.6%) $409,252 (5.6%) 0.00 97
    2021-05-01 $166,950 (-42.2%) $349,013 (-7.9%) 0.00 113
    2021-06-01 $177,450 (-38.6%) $347,546 (-11.5%) 0.00 147
    2021-07-01 $199,900 (-25.8%) $391,854 (-1.1%) 0.00 157
    2021-08-01 $186,375 (-28.0%) $373,027 (-10.0%) 0.00 174
    2021-09-01 $199,000 (-24.7%) $386,831 (-9.9%) 0.00 196
    2021-10-01 $217,400 (-17.0%) $390,296 (-9.3%) 0.00 196
    2021-11-01 $212,500 (-18.0%) $383,201 (-8.5%) 0.00 184
    2021-12-01 $210,000 (-12.5%) $387,449 (-4.1%) 0.00 154
    2022-01-01 $184,950 (-14.8%) $345,723 (-5.9%) 0.00 126
    2022-02-01 $188,500 (-9.6%) $364,269 (-11.9%) 0.00 107
    2022-03-01 $236,475 (-0.3%) $408,194 (-8.8%) 0.00 92
    2022-04-01 $294,450 (37.0%) $482,428 (17.9%) 0.00 80
    2022-05-01 $278,475 (66.8%) $463,201 (32.7%) 0.00 116
    2022-06-01 $324,950 (83.1%) $475,443 (36.8%) 0.00 131
    2022-07-01 $324,950 (62.6%) $513,238 (31.0%) 0.00 163
    2022-08-01 $283,700 (52.2%) $462,423 (24.0%) 0.00 199
    2022-09-01 $288,000 (44.7%) $476,561 (23.2%) 0.00 208
    2022-10-01 $289,900 (33.4%) $474,792 (21.7%) 0.00 206
    2022-11-01 $267,000 (25.7%) $425,900 (11.1%) 0.00 221
    2022-12-01 $277,000 (31.9%) $431,698 (11.4%) 0.00 192
    2023-01-01 $257,722 (39.4%) $431,014 (24.7%) 0.00 165
    2023-02-01 $271,950 (44.3%) $433,692 (19.1%) 0.00 157
    2023-03-01 $284,450 (20.3%) $430,264 (5.4%) 0.00 151
    2023-04-01 $302,400 (2.7%) $479,579 (-0.6%) 0.00 123
    2023-05-01 $288,175 (3.5%) $430,454 (-7.1%) 0.00 146
    2023-06-01 $275,575 (-15.2%) $407,444 (-14.3%) 0.00 170
    2023-07-01 $294,950 (-9.2%) $426,669 (-16.9%) 0.00 188
    2023-08-01 $299,450 (5.6%) $468,313 (1.3%) 0.00 206
    2023-09-01 $322,495 (12.0%) $475,026 (-0.3%) 0.00 201
    2023-10-01 $290,000 (0.0%) $466,162 (-1.8%) 0.00 205
    2023-11-01 $269,675 (1.0%) $450,223 (5.7%) 0.00 222
    2023-12-01 $253,490 (-8.5%) $430,190 (-0.4%) 0.00 218
    2024-01-01 $250,995 (-2.6%) $407,383 (-5.5%) 0.00 196
    2024-02-01 $249,490 (-8.3%) $411,452 (-5.1%) 0.00 185
    2024-03-01 $250,000 (-12.1%) $425,879 (-1.0%) 0.00 203
    2024-04-01 $296,500 (-2.0%) $475,282 (-0.9%) 0.00 177
    2024-05-01 $299,675 (4.0%) $475,761 (10.5%) 0.00 200
    2024-06-01 $309,900 (12.5%) $463,668 (13.8%) 0.00 206
    2024-07-01 $306,500 (3.9%) $447,911 (5.0%) 0.00 219
    2024-08-01 $299,000 (-0.2%) $418,920 (-10.6%) 0.00 238
    2024-09-01 $292,225 (-9.4%) $423,906 (-10.8%) 0.00 241
    2024-10-01 $289,875 (0.0%) $421,586 (-9.6%) 0.00 235
    2024-11-01 $289,900 (7.5%) $411,332 (-8.6%) 0.00 232
    2024-12-01 $279,675 (10.3%) $397,740 (-7.5%) 0.00 221
    2025-01-01 $259,450 (3.4%) $351,532 (-13.7%) 0.00 212
    2025-02-01 $256,000 (2.6%) $342,715 (-16.7%) 0.00 220
    2025-03-01 $289,900 (16.0%) $427,058 (0.3%) 0.00 200
    2025-04-01 $294,900 (-0.5%) $437,970 (-7.9%) 0.00 203
    Michigan City's median listing price for 2025-04-01 was $294,900, a difference of $-1,600 (-0.5%) versus the prior year and $5,000 versus the prior month.

    Michigan City's median listing price comes in at 0% of the national average.

    Michigan City's average listing price for 2025-04-01 was $437,970, a difference of $-37,312 (-7.9%) versus the prior year and $10,912 versus the prior month.

    For the 2025-04-01 period, Michigan City had 203 MLS listings, a difference of 3 listings (2%) versus the prior month and 26 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Michigan City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,862 sqft
    2018-02-01 0 days 1,808 sqft
    2018-03-01 0 days 1,885 sqft
    2018-04-01 0 days 1,900 sqft
    2018-05-01 0 days 1,951 sqft
    2018-06-01 0 days 2,010 sqft
    2018-07-01 0 days 2,025 sqft
    2018-08-01 0 days 1,953 sqft
    2018-09-01 0 days 1,969 sqft
    2018-10-01 0 days 1,962 sqft
    2018-11-01 0 days 1,958 sqft
    2018-12-01 0 days 1,899 sqft
    2019-01-01 0 days 1,932 sqft
    2019-02-01 0 days 1,868 sqft
    2019-03-01 0 days 1,864 sqft
    2019-04-01 0 days 1,882 sqft
    2019-05-01 0 days 1,927 sqft
    2019-06-01 0 days 1,983 sqft
    2019-07-01 0 days 1,993 sqft
    2019-08-01 0 days 1,944 sqft
    2019-09-01 0 days 1,921 sqft
    2019-10-01 0 days 1,913 sqft
    2019-11-01 0 days 1,862 sqft
    2019-12-01 0 days 1,806 sqft
    2020-01-01 0 days 1,868 sqft
    2020-02-01 0 days 1,886 sqft
    2020-03-01 0 days 1,909 sqft
    2020-04-01 0 days 1,998 sqft
    2020-05-01 0 days 1,860 sqft
    2020-06-01 0 days 1,860 sqft
    2020-07-01 0 days 1,851 sqft
    2020-08-01 0 days 1,936 sqft
    2020-09-01 0 days 1,896 sqft
    2020-10-01 0 days 1,880 sqft
    2020-11-01 0 days 1,806 sqft
    2020-12-01 0 days 1,761 sqft
    2021-01-01 0 days 1,782 sqft
    2021-02-01 0 days 1,768 sqft
    2021-03-01 0 days 1,790 sqft
    2021-04-01 0 days 1,781 sqft
    2021-05-01 0 days 1,705 sqft
    2021-06-01 0 days 1,763 sqft
    2021-07-01 0 days 1,808 sqft
    2021-08-01 0 days 1,780 sqft
    2021-09-01 0 days 1,835 sqft
    2021-10-01 0 days 1,839 sqft
    2021-11-01 0 days 1,806 sqft
    2021-12-01 0 days 1,793 sqft
    2022-01-01 0 days 1,746 sqft
    2022-02-01 0 days 1,701 sqft
    2022-03-01 0 days 1,768 sqft
    2022-04-01 0 days 1,934 sqft
    2022-05-01 0 days 1,894 sqft
    2022-06-01 0 days 1,916 sqft
    2022-07-01 0 days 1,928 sqft
    2022-08-01 0 days 1,916 sqft
    2022-09-01 0 days 2,021 sqft
    2022-10-01 0 days 2,006 sqft
    2022-11-01 0 days 1,955 sqft
    2022-12-01 0 days 1,979 sqft
    2023-01-01 0 days 1,938 sqft
    2023-02-01 0 days 2,015 sqft
    2023-03-01 0 days 2,014 sqft
    2023-04-01 0 days 2,014 sqft
    2023-05-01 0 days 2,015 sqft
    2023-06-01 0 days 1,982 sqft
    2023-07-01 0 days 2,011 sqft
    2023-08-01 0 days 2,046 sqft
    2023-09-01 0 days 2,108 sqft
    2023-10-01 0 days 2,018 sqft
    2023-11-01 0 days 1,956 sqft
    2023-12-01 0 days 1,845 sqft
    2024-01-01 0 days 1,774 sqft
    2024-02-01 0 days 1,769 sqft
    2024-03-01 0 days 1,774 sqft
    2024-04-01 0 days 1,978 sqft
    2024-05-01 0 days 1,886 sqft
    2024-06-01 0 days 2,014 sqft
    2024-07-01 0 days 2,015 sqft
    2024-08-01 0 days 2,010 sqft
    2024-09-01 0 days 1,995 sqft
    2024-10-01 0 days 1,941 sqft
    2024-11-01 0 days 1,877 sqft
    2024-12-01 0 days 1,843 sqft
    2025-01-01 0 days 1,682 sqft
    2025-02-01 0 days 1,599 sqft
    2025-03-01 0 days 1,730 sqft
    2025-04-01 0 days 1,766 sqft
    Michigan City's median listing age (time on market) for 2025-04-01 was 0 days.

    Michigan City's median square footage for active listings during the 2025-04-01 period was 1,766 sqft. One year prior, the average listing was 1,978 sqft.