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
6.24%
for the week of 2024-12-13, compared to the national average (all USDA variants) of
6.303% for the same period.
Milwaukee's average USDA mortgage closing costs are $4,754.
The average rate for the prior week (2024-12-06) was
6.18% and
one month ago for the week of 2024-11-08, the
average rate was 6.49%.
The average rate one year ago was 6.96%.
For refis of the same type during the week of 2024-12-13, the average rate
was 5.41%.
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 |
| 2024-06-01 | $399,900 (5.3%) | $494,129 (3.3%) | 0.90 | 3,076 |
| 2024-07-01 | $399,900 (6.7%) | $494,218 (3.9%) | 0.91 | 2,846 |
| 2024-08-01 | $399,000 (13.2%) | $480,792 (4.3%) | 0.93 | 3,050 |
| 2024-09-01 | $389,900 (11.4%) | $479,700 (5.8%) | 0.92 | 3,155 |
| 2024-10-01 | $377,500 (11.0%) | $473,080 (8.1%) | 0.89 | 3,262 |
| 2024-11-01 | $365,000 (6.6%) | $459,376 (4.0%) | 0.88 | 3,165 |
Milwaukee's median listing price comes in at 88% of the national average.
Milwaukee's average listing price for 2024-11-01 was $459,376, a difference of $17,856 (4.0%) versus the prior year and $-13,704 versus the prior month.
For the 2024-11-01 period, Milwaukee had 3,165 MLS listings, a difference of -97 listings (-3%) versus the prior month and 321 listings (11%) 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 |
| 2024-06-01 | 30 days | 1,807 sqft |
| 2024-07-01 | 30 days | 1,816 sqft |
| 2024-08-01 | 29 days | 1,820 sqft |
| 2024-09-01 | 31 days | 1,803 sqft |
| 2024-10-01 | 32 days | 1,764 sqft |
| 2024-11-01 | 37 days | 1,718 sqft |
Milwaukee's median square footage for active listings during the 2024-11-01 period was 1,718 sqft. One year prior, the average listing was 1,719 sqft.