Mitchell USDA Loan Rates, Closing Costs & Stats

Mitchell, SD

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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.

    Mitchell's 6 lenders originated 15 USDA loans during 2023. The total origination value was $2,835,000, with an average USDA loan value of $189,000.

    Mitchell USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Mitchell averaged 6.02% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Mitchell's average USDA mortgage closing costs are $4,252.

    The average rate for the prior week (2025-02-07) was 6.08% and one month ago for the week of 2025-01-10, the average rate was 6.23%.

    The average rate one year ago was 6.02%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.73%.

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

    Mitchell 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 Mitchell level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Plains Commerce Bank 6 5.94% $5,505
    First Dakota National Bank 4 5.91% $2,957
    BANKWEST, INC. 2 6.00% $6,841
    American Bank & Trust 1 5.38% $8,386
    First Bank & Trust 1 5.88% $4,613
    Reliabank Dakota 1 7.00% $5,545

    The top Mitchell USDA lender as defined by loan originations is Plains Commerce Bank, with 6 USDA loans originated. Their average total fees are $5,505, which is $2,548 higher than the next largest lender, First Dakota National Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mitchell (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 $157,350 (-2.8%) $265,278 (31.8%) 0.00 61
    2018-02-01 $173,250 (11.1%) $284,990 (48.7%) 0.00 60
    2018-03-01 $179,950 (15.4%) $290,792 (58.5%) 0.00 51
    2018-04-01 $187,000 (20.8%) $286,085 (52.1%) 0.00 58
    2018-05-01 $188,550 (14.5%) $272,187 (33.1%) 0.00 59
    2018-06-01 $189,900 (16.0%) $283,609 (38.4%) 0.00 58
    2018-07-01 $172,500 (6.2%) $257,974 (29.0%) 0.00 62
    2018-08-01 $164,025 (2.2%) $241,126 (15.8%) 0.00 72
    2018-09-01 $154,825 (1.0%) $237,602 (12.2%) 0.00 64
    2018-10-01 $155,725 (-0.5%) $216,512 (-12.9%) 0.00 63
    2018-11-01 $159,000 (2.1%) $211,855 (-16.5%) 0.00 65
    2018-12-01 $159,000 (2.7%) $210,066 (-17.5%) 0.00 63
    2019-01-01 $175,125 (11.3%) $232,271 (-12.4%) 0.00 47
    2019-02-01 $173,900 (0.4%) $192,018 (-32.6%) 0.00 42
    2019-03-01 $180,757 (0.5%) $201,643 (-30.7%) 0.00 43
    2019-04-01 $185,682 (-0.7%) $202,291 (-29.3%) 0.00 42
    2019-05-01 $170,925 (-9.4%) $195,686 (-28.1%) 0.00 49
    2019-06-01 $161,400 (-15.0%) $192,737 (-32.0%) 0.00 66
    2019-07-01 $161,700 (-6.3%) $192,598 (-25.3%) 0.00 71
    2019-08-01 $150,227 (-8.4%) $186,876 (-22.5%) 0.00 79
    2019-09-01 $143,068 (-7.6%) $177,818 (-25.2%) 0.00 80
    2019-10-01 $141,245 (-9.3%) $173,097 (-20.1%) 0.00 81
    2019-11-01 $138,500 (-12.9%) $170,060 (-19.7%) 0.00 72
    2019-12-01 $135,875 (-14.5%) $160,375 (-23.7%) 0.00 65
    2020-01-01 $131,750 (-24.8%) $147,682 (-36.4%) 0.00 61
    2020-02-01 $143,700 (-17.4%) $165,108 (-14.0%) 0.00 66
    2020-03-01 $147,175 (-18.6%) $167,904 (-16.7%) 0.00 69
    2020-04-01 $156,050 (-16.0%) $170,904 (-15.5%) 0.00 68
    2020-05-01 $155,000 (-9.3%) $168,076 (-14.1%) 0.00 67
    2020-06-01 $138,750 (-14.0%) $167,545 (-13.1%) 0.00 63
    2020-07-01 $138,250 (-14.5%) $191,529 (-0.6%) 0.00 62
    2020-08-01 $154,900 (3.1%) $192,154 (2.8%) 0.00 56
    2020-09-01 $149,950 (4.8%) $183,806 (3.4%) 0.00 53
    2020-10-01 $129,250 (-8.5%) $181,325 (4.8%) 0.00 47
    2020-11-01 $127,375 (-8.0%) $173,262 (1.9%) 0.00 44
    2020-12-01 $124,075 (-8.7%) $256,618 (60.0%) 0.00 36
    2021-01-01 $119,900 (-9.0%) $274,177 (85.7%) 0.00 31
    2021-02-01 $125,925 (-12.4%) $280,074 (69.6%) 0.00 32
    2021-03-01 $165,625 (12.5%) $289,084 (72.2%) 0.00 36
    2021-04-01 $192,000 (23.0%) $304,741 (78.3%) 0.00 39
    2021-05-01 $187,000 (20.7%) $340,158 (102.4%) 0.00 42
    2021-06-01 $223,250 (60.9%) $358,517 (114.0%) 0.00 42
    2021-07-01 $199,900 (44.6%) $354,556 (85.1%) 0.00 51
    2021-08-01 $199,650 (28.9%) $322,276 (67.7%) 0.00 60
    2021-09-01 $208,475 (39.0%) $332,006 (80.6%) 0.00 49
    2021-10-01 $165,000 (27.7%) $305,786 (68.6%) 0.00 41
    2021-11-01 $167,225 (31.3%) $283,475 (63.6%) 0.00 37
    2021-12-01 $157,350 (26.8%) $262,095 (2.1%) 0.00 32
    2022-01-01 $138,400 (15.4%) $254,184 (-7.3%) 0.00 26
    2022-02-01 $148,125 (17.6%) $259,657 (-7.3%) 0.00 29
    2022-03-01 $187,450 (13.2%) $282,707 (-2.2%) 0.00 34
    2022-04-01 $214,950 (12.0%) $296,663 (-2.7%) 0.00 43
    2022-05-01 $218,750 (17.0%) $308,567 (-9.3%) 0.00 48
    2022-06-01 $218,875 (-2.0%) $316,692 (-11.7%) 0.00 54
    2022-07-01 $221,250 (10.7%) $326,857 (-7.8%) 0.00 53
    2022-08-01 $233,500 (17.0%) $388,300 (20.5%) 0.00 47
    2022-09-01 $227,500 (9.1%) $396,818 (19.5%) 0.00 46
    2022-10-01 $250,000 (51.5%) $421,021 (37.7%) 0.00 37
    2022-11-01 $259,675 (55.3%) $443,019 (56.3%) 0.00 38
    2022-12-01 $359,900 (128.7%) $475,817 (81.5%) 0.00 33
    2023-01-01 $304,900 (120.3%) $465,379 (83.1%) 0.00 31
    2023-02-01 $324,999 (119.4%) $497,290 (91.5%) 0.00 32
    2023-03-01 $304,900 (62.7%) $490,748 (73.6%) 0.00 32
    2023-04-01 $299,000 (39.1%) $461,022 (55.4%) 0.00 35
    2023-05-01 $302,700 (38.4%) $434,734 (40.9%) 0.00 59
    2023-06-01 $295,600 (35.1%) $395,317 (24.8%) 0.00 80
    2023-07-01 $279,900 (26.5%) $358,222 (9.6%) 0.00 103
    2023-08-01 $273,675 (17.2%) $392,234 (1.0%) 0.00 64
    2023-09-01 $289,950 (27.5%) $381,828 (-3.8%) 0.00 64
    2023-10-01 $295,000 (18.0%) $374,315 (-11.1%) 0.00 50
    2023-11-01 $295,000 (13.6%) $351,890 (-20.6%) 0.00 53
    2023-12-01 $290,000 (-19.4%) $351,466 (-26.1%) 0.00 49
    2024-01-01 $279,000 (-8.5%) $345,589 (-25.7%) 0.00 45
    2024-02-01 $292,500 (-10.0%) $325,009 (-34.6%) 0.00 39
    2024-03-01 $309,900 (1.6%) $341,325 (-30.5%) 0.00 38
    2024-04-01 $310,725 (3.9%) $373,163 (-19.1%) 0.00 44
    2024-05-01 $363,750 (20.2%) $394,407 (-9.3%) 0.00 51
    2024-06-01 $340,000 (15.0%) $378,916 (-4.2%) 0.00 61
    2024-07-01 $311,975 (11.5%) $362,479 (1.2%) 0.00 62
    2024-08-01 $299,900 (9.6%) $383,395 (-2.3%) 0.00 70
    2024-09-01 $299,000 (3.1%) $387,547 (1.5%) 0.00 69
    2024-10-01 $314,250 (6.5%) $383,998 (2.6%) 0.00 70
    2024-11-01 $324,950 (10.2%) $395,562 (12.4%) 0.00 62
    2024-12-01 $364,000 (25.5%) $425,197 (21.0%) 0.00 52
    2025-01-01 $344,950 (23.6%) $380,880 (10.2%) 0.00 49
    Mitchell's median listing price for 2025-01-01 was $344,950, a difference of $65,950 (23.6%) versus the prior year and $-19,050 versus the prior month.

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

    Mitchell's average listing price for 2025-01-01 was $380,880, a difference of $35,291 (10.2%) versus the prior year and $-44,317 versus the prior month.

    For the 2025-01-01 period, Mitchell had 49 MLS listings, a difference of -3 listings (-6%) versus the prior month and 4 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mitchell (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,663 sqft
    2018-02-01 0 days 1,751 sqft
    2018-03-01 0 days 1,578 sqft
    2018-04-01 0 days 1,665 sqft
    2018-05-01 0 days 1,661 sqft
    2018-06-01 0 days 1,749 sqft
    2018-07-01 0 days 1,661 sqft
    2018-08-01 0 days 1,686 sqft
    2018-09-01 0 days 1,650 sqft
    2018-10-01 0 days 1,633 sqft
    2018-11-01 0 days 1,778 sqft
    2018-12-01 0 days 1,778 sqft
    2019-01-01 0 days 1,820 sqft
    2019-02-01 0 days 1,812 sqft
    2019-03-01 0 days 1,713 sqft
    2019-04-01 0 days 1,730 sqft
    2019-05-01 0 days 1,784 sqft
    2019-06-01 0 days 1,888 sqft
    2019-07-01 0 days 1,832 sqft
    2019-08-01 0 days 1,692 sqft
    2019-09-01 0 days 1,659 sqft
    2019-10-01 0 days 1,631 sqft
    2019-11-01 0 days 1,546 sqft
    2019-12-01 0 days 1,454 sqft
    2020-01-01 0 days 1,383 sqft
    2020-02-01 0 days 1,596 sqft
    2020-03-01 0 days 1,624 sqft
    2020-04-01 0 days 1,651 sqft
    2020-05-01 0 days 1,640 sqft
    2020-06-01 0 days 1,587 sqft
    2020-07-01 0 days 1,553 sqft
    2020-08-01 0 days 1,773 sqft
    2020-09-01 0 days 1,754 sqft
    2020-10-01 0 days 1,720 sqft
    2020-11-01 0 days 1,731 sqft
    2020-12-01 0 days 1,720 sqft
    2021-01-01 0 days 1,830 sqft
    2021-02-01 0 days 1,773 sqft
    2021-03-01 0 days 1,914 sqft
    2021-04-01 0 days 1,981 sqft
    2021-05-01 0 days 1,975 sqft
    2021-06-01 0 days 1,860 sqft
    2021-07-01 0 days 1,758 sqft
    2021-08-01 0 days 1,872 sqft
    2021-09-01 0 days 1,913 sqft
    2021-10-01 0 days 1,821 sqft
    2021-11-01 0 days 1,881 sqft
    2021-12-01 0 days 1,673 sqft
    2022-01-01 0 days 1,502 sqft
    2022-02-01 0 days 1,509 sqft
    2022-03-01 0 days 1,620 sqft
    2022-04-01 0 days 1,750 sqft
    2022-05-01 0 days 1,721 sqft
    2022-06-01 0 days 1,683 sqft
    2022-07-01 0 days 1,716 sqft
    2022-08-01 0 days 1,765 sqft
    2022-09-01 0 days 1,870 sqft
    2022-10-01 0 days 1,890 sqft
    2022-11-01 0 days 1,757 sqft
    2022-12-01 0 days 1,803 sqft
    2023-01-01 0 days 1,826 sqft
    2023-02-01 0 days 1,890 sqft
    2023-03-01 0 days 1,880 sqft
    2023-04-01 0 days 1,901 sqft
    2023-05-01 0 days 1,942 sqft
    2023-06-01 0 days 1,896 sqft
    2023-07-01 0 days 1,887 sqft
    2023-08-01 0 days 2,020 sqft
    2023-09-01 0 days 2,018 sqft
    2023-10-01 0 days 1,978 sqft
    2023-11-01 0 days 2,128 sqft
    2023-12-01 0 days 2,256 sqft
    2024-01-01 0 days 2,236 sqft
    2024-02-01 0 days 1,891 sqft
    2024-03-01 0 days 1,931 sqft
    2024-04-01 0 days 2,118 sqft
    2024-05-01 0 days 2,268 sqft
    2024-06-01 0 days 2,242 sqft
    2024-07-01 0 days 2,083 sqft
    2024-08-01 0 days 2,208 sqft
    2024-09-01 0 days 2,196 sqft
    2024-10-01 0 days 2,300 sqft
    2024-11-01 0 days 2,248 sqft
    2024-12-01 0 days 2,242 sqft
    2025-01-01 0 days 2,203 sqft
    Mitchell's median listing age (time on market) for 2025-01-01 was 0 days.

    Mitchell's median square footage for active listings during the 2025-01-01 period was 2,203 sqft. One year prior, the average listing was 2,236 sqft.