Palm Bay USDA Loan Rates, Closing Costs & Stats

PALM BAY-MELBOURNE-TITUSVILLE, FL

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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.

    Palm Bay USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Palm Bay averaged 6.19% for the week of 2025-05-23, compared to the national average (all USDA variants) of 6.433% for the same period.

    Palm Bay's average USDA mortgage closing costs are $6,623.

    The average rate for the prior week (2025-05-16) was 6.52% and one month ago for the week of 2025-04-18, the average rate was 6.31%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6%.

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

    Palm Bay 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 Palm Bay level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Palm Bay (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 $279,450 (7.5%) $365,951 (1.9%) 1.04 2,906
    2018-02-01 $279,950 (4.9%) $369,003 (1.0%) 1.02 2,960
    2018-03-01 $286,333 (4.1%) $373,740 (-0.5%) 1.00 2,974
    2018-04-01 $294,975 (5.4%) $381,906 (0.7%) 1.00 2,995
    2018-05-01 $293,076 (4.7%) $382,452 (0.3%) 0.98 3,099
    2018-06-01 $290,000 (0.4%) $381,884 (-1.3%) 0.97 3,187
    2018-07-01 $291,654 (4.2%) $383,541 (0.5%) 0.97 3,217
    2018-08-01 $289,450 (2.5%) $381,761 (0.1%) 0.97 3,275
    2018-09-01 $280,458 (0.2%) $376,802 (0.0%) 0.94 3,379
    2018-10-01 $280,128 (0.1%) $375,245 (1.2%) 0.95 3,444
    2018-11-01 $279,850 (0.0%) $373,829 (1.0%) 0.95 3,618
    2018-12-01 $275,000 (-1.4%) $372,331 (1.5%) 0.95 3,709
    2019-01-01 $279,450 (0.0%) $371,159 (1.4%) 0.97 3,749
    2019-02-01 $280,715 (0.3%) $374,352 (1.5%) 0.95 3,822
    2019-03-01 $287,043 (0.3%) $379,852 (1.6%) 0.94 3,662
    2019-04-01 $289,093 (-2.0%) $383,363 (0.4%) 0.92 3,436
    2019-05-01 $289,150 (-1.3%) $386,537 (1.1%) 0.90 3,249
    2019-06-01 $294,950 (1.7%) $389,831 (2.1%) 0.92 3,156
    2019-07-01 $295,000 (1.2%) $389,082 (1.4%) 0.92 3,100
    2019-08-01 $293,671 (1.5%) $392,285 (2.8%) 0.93 3,010
    2019-09-01 $297,175 (6.0%) $396,229 (5.2%) 0.95 2,972
    2019-10-01 $299,900 (7.1%) $398,858 (6.3%) 0.97 2,929
    2019-11-01 $299,900 (7.2%) $393,470 (5.3%) 0.98 2,903
    2019-12-01 $295,395 (7.4%) $393,488 (5.7%) 0.99 2,875
    2020-01-01 $297,056 (6.3%) $404,977 (9.1%) 0.99 2,836
    2020-02-01 $294,371 (4.9%) $402,409 (7.5%) 0.96 2,800
    2020-03-01 $299,100 (4.2%) $406,709 (7.1%) 0.94 2,837
    2020-04-01 $294,907 (2.0%) $397,396 (3.7%) 0.92 3,013
    2020-05-01 $296,511 (2.6%) $398,457 (3.1%) 0.90 2,844
    2020-06-01 $298,926 (1.4%) $405,791 (4.1%) 0.88 2,394
    2020-07-01 $302,500 (2.5%) $412,085 (5.9%) 0.88 2,125
    2020-08-01 $310,000 (5.6%) $417,803 (6.5%) 0.89 2,004
    2020-09-01 $315,943 (6.3%) $421,636 (6.4%) 0.91 1,775
    2020-10-01 $315,612 (5.2%) $422,563 (5.9%) 0.90 1,734
    2020-11-01 $307,070 (2.4%) $416,452 (5.8%) 0.90 1,756
    2020-12-01 $299,950 (1.5%) $409,597 (4.1%) 0.89 1,677
    2021-01-01 $299,900 (1.0%) $416,782 (2.9%) 0.90 1,468
    2021-02-01 $299,950 (1.9%) $424,264 (5.4%) 0.87 1,235
    2021-03-01 $311,996 (4.3%) $443,071 (8.9%) 0.89 969
    2021-04-01 $326,950 (10.9%) $455,747 (14.7%) 0.89 874
    2021-05-01 $339,917 (14.6%) $473,249 (18.8%) 0.90 861
    2021-06-01 $349,900 (17.1%) $498,739 (22.9%) 0.92 946
    2021-07-01 $350,000 (15.7%) $499,714 (21.3%) 0.92 1,150
    2021-08-01 $357,175 (15.2%) $490,485 (17.4%) 0.95 1,255
    2021-09-01 $359,350 (13.7%) $493,697 (17.1%) 0.96 1,293
    2021-10-01 $369,500 (17.1%) $510,270 (20.8%) 0.99 1,191
    2021-11-01 $369,900 (20.5%) $521,744 (25.3%) 0.99 1,179
    2021-12-01 $365,250 (21.8%) $509,257 (24.3%) 0.99 1,089
    2022-01-01 $369,250 (23.1%) $534,763 (28.3%) 1.00 904
    2022-02-01 $373,361 (24.5%) $554,890 (30.8%) 0.97 802
    2022-03-01 $373,126 (19.6%) $562,191 (26.9%) 0.93 765
    2022-04-01 $390,000 (19.3%) $567,574 (24.5%) 0.93 799
    2022-05-01 $402,470 (18.4%) $574,065 (21.3%) 0.92 1,064
    2022-06-01 $417,000 (19.2%) $569,554 (14.2%) 0.93 1,285
    2022-07-01 $399,900 (14.3%) $538,750 (7.8%) 0.90 1,759
    2022-08-01 $390,000 (9.2%) $524,538 (6.9%) 0.90 2,027
    2022-09-01 $380,000 (5.8%) $516,482 (4.6%) 0.89 2,042
    2022-10-01 $379,900 (2.8%) $513,196 (0.6%) 0.89 2,234
    2022-11-01 $376,400 (1.8%) $504,857 (-3.2%) 0.90 2,380
    2022-12-01 $375,000 (2.7%) $500,953 (-1.6%) 0.93 2,370
    2023-01-01 $375,000 (1.6%) $501,696 (-6.2%) 0.93 2,364
    2023-02-01 $374,950 (0.4%) $509,149 (-8.2%) 0.90 2,217
    2023-03-01 $376,500 (0.9%) $506,208 (-10.0%) 0.89 2,146
    2023-04-01 $376,000 (-3.6%) $513,479 (-9.5%) 0.87 2,041
    2023-05-01 $382,815 (-4.9%) $519,302 (-9.5%) 0.87 2,050
    2023-06-01 $385,950 (-7.5%) $521,684 (-8.4%) 0.87 2,101
    2023-07-01 $389,000 (-2.7%) $517,903 (-3.9%) 0.88 2,138
    2023-08-01 $395,000 (1.3%) $523,931 (-0.1%) 0.91 2,280
    2023-09-01 $390,000 (2.6%) $520,219 (0.7%) 0.91 2,516
    2023-10-01 $389,900 (2.6%) $522,630 (1.8%) 0.92 2,834
    2023-11-01 $386,250 (2.6%) $516,599 (2.3%) 0.92 3,066
    2023-12-01 $380,000 (1.3%) $510,454 (1.9%) 0.93 3,073
    2024-01-01 $387,950 (3.5%) $515,361 (2.7%) 0.95 3,195
    2024-02-01 $389,950 (4.0%) $525,634 (3.2%) 0.94 3,252
    2024-03-01 $388,283 (3.1%) $514,169 (1.6%) 0.91 3,409
    2024-04-01 $395,000 (5.1%) $518,994 (1.1%) 0.92 3,568
    2024-05-01 $397,000 (3.7%) $519,395 (0.0%) 0.90 3,647
    2024-06-01 $394,900 (2.3%) $517,032 (-0.9%) 0.90 3,773
    2024-07-01 $396,510 (1.9%) $520,771 (0.6%) 0.91 3,809
    2024-08-01 $390,000 (-1.3%) $515,105 (-1.7%) 0.91 3,869
    2024-09-01 $390,000 (0.0%) $517,868 (-0.5%) 0.92 3,930
    2024-10-01 $390,480 (0.2%) $513,326 (-1.8%) 0.92 3,934
    2024-11-01 $389,000 (0.7%) $510,135 (-1.3%) 0.93 4,063
    2024-12-01 $385,000 (1.3%) $508,004 (-0.5%) 0.96 3,992
    2025-01-01 $385,000 (-0.8%) $504,922 (-2.0%) 0.96 4,057
    2025-02-01 $381,475 (-2.2%) $499,049 (-5.1%) 0.93 4,256
    2025-03-01 $385,000 (-0.9%) $504,612 (-1.9%) 0.91 4,431
    2025-04-01 $389,825 (-1.3%) $509,599 (-1.8%) 0.90 4,562
    Palm Bay's median listing price for 2025-04-01 was $389,825, a difference of $-5,175 (-1.3%) versus the prior year and $4,825 versus the prior month.

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

    Palm Bay's average listing price for 2025-04-01 was $509,599, a difference of $-9,395 (-1.8%) versus the prior year and $4,987 versus the prior month.

    For the 2025-04-01 period, Palm Bay had 4,562 MLS listings, a difference of 131 listings (3%) versus the prior month and 994 listings (28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Palm Bay (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 63 days 1,875 sqft
    2018-02-01 52 days 1,870 sqft
    2018-03-01 50 days 1,876 sqft
    2018-04-01 51 days 1,903 sqft
    2018-05-01 50 days 1,893 sqft
    2018-06-01 51 days 1,898 sqft
    2018-07-01 56 days 1,908 sqft
    2018-08-01 57 days 1,877 sqft
    2018-09-01 57 days 1,854 sqft
    2018-10-01 58 days 1,850 sqft
    2018-11-01 59 days 1,834 sqft
    2018-12-01 63 days 1,824 sqft
    2019-01-01 68 days 1,823 sqft
    2019-02-01 62 days 1,828 sqft
    2019-03-01 59 days 1,840 sqft
    2019-04-01 60 days 1,854 sqft
    2019-05-01 61 days 1,868 sqft
    2019-06-01 63 days 1,885 sqft
    2019-07-01 59 days 1,872 sqft
    2019-08-01 60 days 1,868 sqft
    2019-09-01 63 days 1,874 sqft
    2019-10-01 64 days 1,877 sqft
    2019-11-01 61 days 1,850 sqft
    2019-12-01 67 days 1,850 sqft
    2020-01-01 67 days 1,855 sqft
    2020-02-01 60 days 1,841 sqft
    2020-03-01 54 days 1,858 sqft
    2020-04-01 58 days 1,847 sqft
    2020-05-01 71 days 1,852 sqft
    2020-06-01 75 days 1,841 sqft
    2020-07-01 64 days 1,845 sqft
    2020-08-01 61 days 1,841 sqft
    2020-09-01 61 days 1,844 sqft
    2020-10-01 64 days 1,847 sqft
    2020-11-01 54 days 1,816 sqft
    2020-12-01 54 days 1,776 sqft
    2021-01-01 58 days 1,777 sqft
    2021-02-01 47 days 1,799 sqft
    2021-03-01 55 days 1,808 sqft
    2021-04-01 53 days 1,815 sqft
    2021-05-01 47 days 1,796 sqft
    2021-06-01 41 days 1,775 sqft
    2021-07-01 34 days 1,764 sqft
    2021-08-01 35 days 1,770 sqft
    2021-09-01 40 days 1,784 sqft
    2021-10-01 51 days 1,806 sqft
    2021-11-01 52 days 1,789 sqft
    2021-12-01 59 days 1,785 sqft
    2022-01-01 66 days 1,775 sqft
    2022-02-01 47 days 1,796 sqft
    2022-03-01 33 days 1,752 sqft
    2022-04-01 30 days 1,750 sqft
    2022-05-01 29 days 1,781 sqft
    2022-06-01 30 days 1,795 sqft
    2022-07-01 32 days 1,800 sqft
    2022-08-01 38 days 1,772 sqft
    2022-09-01 45 days 1,754 sqft
    2022-10-01 50 days 1,764 sqft
    2022-11-01 53 days 1,755 sqft
    2022-12-01 59 days 1,756 sqft
    2023-01-01 60 days 1,754 sqft
    2023-02-01 57 days 1,750 sqft
    2023-03-01 52 days 1,754 sqft
    2023-04-01 50 days 1,755 sqft
    2023-05-01 47 days 1,768 sqft
    2023-06-01 47 days 1,767 sqft
    2023-07-01 52 days 1,757 sqft
    2023-08-01 48 days 1,742 sqft
    2023-09-01 47 days 1,736 sqft
    2023-10-01 50 days 1,755 sqft
    2023-11-01 53 days 1,745 sqft
    2023-12-01 60 days 1,732 sqft
    2024-01-01 66 days 1,751 sqft
    2024-02-01 60 days 1,777 sqft
    2024-03-01 54 days 1,772 sqft
    2024-04-01 52 days 1,780 sqft
    2024-05-01 52 days 1,762 sqft
    2024-06-01 57 days 1,762 sqft
    2024-07-01 61 days 1,764 sqft
    2024-08-01 65 days 1,753 sqft
    2024-09-01 65 days 1,751 sqft
    2024-10-01 69 days 1,743 sqft
    2024-11-01 71 days 1,740 sqft
    2024-12-01 75 days 1,721 sqft
    2025-01-01 73 days 1,714 sqft
    2025-02-01 67 days 1,700 sqft
    2025-03-01 59 days 1,706 sqft
    2025-04-01 61 days 1,724 sqft
    Palm Bay's median listing age (time on market) for 2025-04-01 was 61 days. This is 17% longer than the same period one year ago.

    Palm Bay's median square footage for active listings during the 2025-04-01 period was 1,724 sqft. One year prior, the average listing was 1,780 sqft.