Milwaukee USDA Loan Rates, Closing Costs & Stats

MILWAUKEE-WAUKESHA, WI

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.

Milwaukee's 1 lenders originated 2 USDA loans during 2023. The total origination value was $570,000, with an average USDA loan value of $285,000.

Milwaukee USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Milwaukee averaged 6.55% for the week of 2024-06-14, compared to the national average (all USDA variants) of 6.709% for the same period.

Milwaukee's average USDA mortgage closing costs are $4,754.

The average rate for the prior week (2024-06-07) was 6.84% and one month ago for the week of 2024-05-10, the average rate was 6.93%.

The average rate one year ago was 6.88%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.22%.

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

Milwaukee 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 Milwaukee level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
PLANET HOME LENDING, LLC 1 5.99% $10,258

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Milwaukee (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 $213,950 (7.0%) $304,492 (6.1%) 0.79 3,853
2018-02-01 $222,400 (9.0%) $315,261 (8.0%) 0.81 4,074
2018-03-01 $232,450 (6.2%) $321,757 (6.3%) 0.82 4,494
2018-04-01 $241,425 (9.8%) $328,105 (8.0%) 0.82 4,827
2018-05-01 $249,900 (10.1%) $331,661 (7.3%) 0.83 5,146
2018-06-01 $259,900 (13.0%) $343,249 (9.7%) 0.87 5,337
2018-07-01 $254,950 (10.9%) $338,895 (7.2%) 0.85 5,416
2018-08-01 $249,900 (8.9%) $333,963 (6.8%) 0.84 5,521
2018-09-01 $249,900 (11.1%) $336,092 (8.1%) 0.84 5,366
2018-10-01 $249,900 (13.6%) $334,642 (8.6%) 0.85 5,223
2018-11-01 $249,000 (13.4%) $331,330 (7.8%) 0.84 4,819
2018-12-01 $244,900 (14.0%) $327,679 (8.5%) 0.84 4,059
2019-01-01 $249,575 (16.7%) $332,532 (9.2%) 0.86 3,608
2019-02-01 $261,900 (17.8%) $342,888 (8.8%) 0.88 3,779
2019-03-01 $270,943 (16.6%) $351,332 (9.2%) 0.89 4,193
2019-04-01 $304,450 (26.1%) $385,958 (17.6%) 0.97 4,721
2019-05-01 $304,900 (22.0%) $386,754 (16.6%) 0.95 4,973
2019-06-01 $279,900 (7.7%) $358,176 (4.4%) 0.87 5,244
2019-07-01 $281,713 (10.5%) $364,387 (7.5%) 0.88 5,221
2019-08-01 $275,855 (10.4%) $360,673 (8.0%) 0.87 5,236
2019-09-01 $269,749 (7.9%) $355,033 (5.6%) 0.86 5,207
2019-10-01 $264,950 (6.0%) $349,048 (4.3%) 0.85 5,162
2019-11-01 $259,900 (4.4%) $342,044 (3.2%) 0.85 4,588
2019-12-01 $253,450 (3.5%) $339,705 (3.7%) 0.85 3,760
2020-01-01 $256,475 (2.8%) $341,509 (2.7%) 0.86 3,366
2020-02-01 $269,900 (3.1%) $352,524 (2.8%) 0.88 3,607
2020-03-01 $279,900 (3.3%) $356,161 (1.4%) 0.88 3,994
2020-04-01 $282,450 (-7.2%) $356,228 (-7.7%) 0.88 3,907
2020-05-01 $293,950 (-3.6%) $370,498 (-4.2%) 0.89 4,032
2020-06-01 $294,925 (5.4%) $371,487 (3.7%) 0.87 4,432
2020-07-01 $299,900 (6.5%) $375,615 (3.1%) 0.87 4,500
2020-08-01 $289,900 (5.1%) $372,590 (3.3%) 0.83 4,557
2020-09-01 $275,000 (2.0%) $359,972 (1.4%) 0.79 4,634
2020-10-01 $267,900 (1.1%) $352,902 (1.1%) 0.77 4,433
2020-11-01 $263,700 (1.5%) $352,325 (3.0%) 0.77 3,788
2020-12-01 $260,000 (2.6%) $352,173 (3.7%) 0.77 3,041
2021-01-01 $259,900 (1.3%) $353,181 (3.4%) 0.78 2,481
2021-02-01 $264,900 (-1.9%) $356,453 (1.1%) 0.77 2,489
2021-03-01 $274,900 (-1.8%) $359,178 (0.9%) 0.78 2,704
2021-04-01 $277,450 (-1.8%) $361,118 (1.4%) 0.75 3,054
2021-05-01 $289,900 (-1.4%) $371,738 (0.3%) 0.77 3,450
2021-06-01 $289,900 (-1.7%) $371,004 (-0.1%) 0.76 3,911
2021-07-01 $284,900 (-5.0%) $362,260 (-3.6%) 0.75 4,361
2021-08-01 $280,000 (-3.4%) $359,763 (-3.4%) 0.75 4,433
2021-09-01 $276,850 (0.7%) $357,279 (-0.8%) 0.74 4,388
2021-10-01 $274,900 (2.6%) $357,071 (1.2%) 0.73 4,163
2021-11-01 $262,400 (-0.5%) $350,043 (-0.7%) 0.70 3,708
2021-12-01 $250,000 (-3.9%) $341,680 (-3.0%) 0.68 2,930
2022-01-01 $259,900 (0.0%) $353,801 (0.2%) 0.70 2,124
2022-02-01 $267,900 (1.1%) $363,553 (2.0%) 0.70 2,284
2022-03-01 $289,950 (5.5%) $389,002 (8.3%) 0.73 2,389
2022-04-01 $299,900 (8.1%) $397,866 (10.2%) 0.71 2,615
2022-05-01 $322,450 (11.2%) $408,308 (9.8%) 0.74 3,099
2022-06-01 $334,900 (15.5%) $420,023 (13.2%) 0.75 3,399
2022-07-01 $325,000 (14.1%) $413,933 (14.3%) 0.73 3,597
2022-08-01 $332,400 (18.7%) $415,704 (15.6%) 0.77 3,590
2022-09-01 $332,450 (20.1%) $416,238 (16.5%) 0.78 3,203
2022-10-01 $329,900 (20.0%) $415,246 (16.3%) 0.78 3,111
2022-11-01 $324,950 (23.8%) $414,015 (18.3%) 0.78 2,992
2022-12-01 $337,900 (35.2%) $427,662 (25.2%) 0.83 2,353
2023-01-01 $349,900 (34.6%) $431,805 (22.1%) 0.87 1,947
2023-02-01 $349,900 (30.6%) $438,030 (20.5%) 0.84 1,989
2023-03-01 $366,200 (26.3%) $452,577 (16.3%) 0.86 1,977
2023-04-01 $369,000 (23.0%) $452,755 (13.8%) 0.86 2,186
2023-05-01 $374,950 (16.3%) $460,004 (12.7%) 0.85 2,385
2023-06-01 $379,950 (13.5%) $478,344 (13.9%) 0.85 2,551
2023-07-01 $374,900 (15.4%) $475,517 (14.9%) 0.85 2,712
2023-08-01 $352,500 (6.1%) $461,060 (10.9%) 0.81 2,839
2023-09-01 $349,900 (5.3%) $453,475 (9.0%) 0.81 2,927
2023-10-01 $339,975 (3.1%) $437,790 (5.4%) 0.80 3,024
2023-11-01 $342,450 (5.4%) $441,520 (6.6%) 0.82 2,844
2023-12-01 $335,000 (-0.9%) $434,646 (1.6%) 0.82 2,360
2024-01-01 $341,950 (-2.3%) $434,354 (0.6%) 0.84 2,038
2024-02-01 $353,950 (1.2%) $448,558 (2.4%) 0.85 1,950
2024-03-01 $365,000 (-0.3%) $459,758 (1.6%) 0.86 2,173
2024-04-01 $376,450 (2.0%) $469,251 (3.6%) 0.88 2,452
2024-05-01 $399,950 (6.7%) $494,415 (7.5%) 0.90 2,733
Milwaukee's median listing price for 2024-05-01 was $399,950, a difference of $25,000 (6.7%) versus the prior year and $23,500 versus the prior month.

Milwaukee's median listing price comes in at 90% of the national average.

Milwaukee's average listing price for 2024-05-01 was $494,415, a difference of $34,411 (7.5%) versus the prior year and $25,164 versus the prior month.

For the 2024-05-01 period, Milwaukee had 2,733 MLS listings, a difference of 281 listings (11%) versus the prior month and 348 listings (15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Milwaukee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 77 days 1,643 sqft
2018-02-01 55 days 1,670 sqft
2018-03-01 40 days 1,714 sqft
2018-04-01 36 days 1,735 sqft
2018-05-01 36 days 1,747 sqft
2018-06-01 36 days 1,785 sqft
2018-07-01 40 days 1,763 sqft
2018-08-01 40 days 1,738 sqft
2018-09-01 43 days 1,728 sqft
2018-10-01 45 days 1,733 sqft
2018-11-01 50 days 1,725 sqft
2018-12-01 59 days 1,720 sqft
2019-01-01 67 days 1,739 sqft
2019-02-01 54 days 1,781 sqft
2019-03-01 42 days 1,806 sqft
2019-04-01 39 days 1,900 sqft
2019-05-01 38 days 1,922 sqft
2019-06-01 36 days 1,833 sqft
2019-07-01 37 days 1,835 sqft
2019-08-01 39 days 1,823 sqft
2019-09-01 42 days 1,805 sqft
2019-10-01 44 days 1,788 sqft
2019-11-01 50 days 1,757 sqft
2019-12-01 61 days 1,719 sqft
2020-01-01 65 days 1,707 sqft
2020-02-01 43 days 1,754 sqft
2020-03-01 37 days 1,783 sqft
2020-04-01 39 days 1,795 sqft
2020-05-01 42 days 1,825 sqft
2020-06-01 36 days 1,824 sqft
2020-07-01 36 days 1,823 sqft
2020-08-01 33 days 1,800 sqft
2020-09-01 35 days 1,727 sqft
2020-10-01 36 days 1,680 sqft
2020-11-01 40 days 1,666 sqft
2020-12-01 46 days 1,637 sqft
2021-01-01 48 days 1,625 sqft
2021-02-01 37 days 1,635 sqft
2021-03-01 30 days 1,633 sqft
2021-04-01 29 days 1,629 sqft
2021-05-01 26 days 1,691 sqft
2021-06-01 26 days 1,702 sqft
2021-07-01 29 days 1,690 sqft
2021-08-01 32 days 1,679 sqft
2021-09-01 35 days 1,656 sqft
2021-10-01 37 days 1,633 sqft
2021-11-01 41 days 1,613 sqft
2021-12-01 49 days 1,580 sqft
2022-01-01 50 days 1,576 sqft
2022-02-01 30 days 1,610 sqft
2022-03-01 30 days 1,655 sqft
2022-04-01 28 days 1,682 sqft
2022-05-01 25 days 1,743 sqft
2022-06-01 28 days 1,778 sqft
2022-07-01 29 days 1,758 sqft
2022-08-01 32 days 1,762 sqft
2022-09-01 36 days 1,733 sqft
2022-10-01 35 days 1,736 sqft
2022-11-01 37 days 1,717 sqft
2022-12-01 46 days 1,718 sqft
2023-01-01 55 days 1,702 sqft
2023-02-01 37 days 1,711 sqft
2023-03-01 33 days 1,730 sqft
2023-04-01 30 days 1,763 sqft
2023-05-01 29 days 1,776 sqft
2023-06-01 29 days 1,785 sqft
2023-07-01 29 days 1,753 sqft
2023-08-01 29 days 1,716 sqft
2023-09-01 30 days 1,695 sqft
2023-10-01 32 days 1,700 sqft
2023-11-01 36 days 1,719 sqft
2023-12-01 44 days 1,690 sqft
2024-01-01 46 days 1,677 sqft
2024-02-01 37 days 1,706 sqft
2024-03-01 29 days 1,725 sqft
2024-04-01 31 days 1,762 sqft
2024-05-01 29 days 1,811 sqft
Milwaukee's median listing age (time on market) for 2024-05-01 was 29 days. This is 2% longer than the same period one year ago.

Milwaukee's median square footage for active listings during the 2024-05-01 period was 1,811 sqft. One year prior, the average listing was 1,776 sqft.