Pittsburgh USDA Loan Rates, Closing Costs & Stats
PITTSBURGH, PA
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.
Pittsburgh's 69 lenders originated 495 USDA loans during 2022. The total origination value was $69,275,000, with an average USDA loan value of $139,949.
Pittsburgh USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Pittsburgh
averaged
-0.23%
for the week of 2023-11-24, compared to the national average (all USDA variants) of
0% for the same period.
Pittsburgh's average USDA mortgage closing costs are $5,162.
The average rate for the prior week (2023-11-17) was
6.96% and
one month ago for the week of 2023-10-20, the
average rate was 6.98%.
The average rate one year ago was 5.92%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.58%.
Pittsburgh 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 Pittsburgh level.
The top Pittsburgh USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with
58 USDA loans originated. Their average total fees are
$7,060, which is $1,043
higher than the next largest lender,
EQUITY RESOURCES, INC..
The lowest fee Pittsburgh USDA lenders (with over 10 loans originated) are
DEVELOPER'S MORTGAGE COMPANY ($3,161), Flagstar Bank, FSB ($4,697), HOWARD HANNA FINANCIAL SERVICES, INC. ($4,699), SOMERSET TRUST COMPANY ($4,721) and First Commonwealth Bank ($5,240).
The lowest rate Pittsburgh USDA lenders (with over 10 loans originated) are
Flagstar Bank, FSB (3.57%), Sail Mortgage Corp. (4.12%), First Commonwealth Bank (4.20%), Citizens Bank (4.36%) and Victorian Finance, LLC (4.42%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $169,900 (11.4%) | $260,220 (6.9%) | 0.63 | 7,638 |
2018-02-01 | $169,900 (9.7%) | $265,383 (6.6%) | 0.62 | 7,156 |
2018-03-01 | $179,900 (11.4%) | $279,024 (7.5%) | 0.63 | 6,923 |
2018-04-01 | $184,900 (9.8%) | $285,038 (7.4%) | 0.63 | 6,960 |
2018-05-01 | $188,450 (10.1%) | $288,764 (7.4%) | 0.63 | 7,194 |
2018-06-01 | $184,900 (5.7%) | $282,758 (5.0%) | 0.62 | 7,537 |
2018-07-01 | $183,750 (2.1%) | $281,255 (4.0%) | 0.61 | 7,817 |
2018-08-01 | $182,400 (2.4%) | $277,906 (3.9%) | 0.61 | 7,963 |
2018-09-01 | $179,900 (2.8%) | $275,568 (3.8%) | 0.60 | 8,058 |
2018-10-01 | $179,450 (2.6%) | $272,387 (4.0%) | 0.61 | 8,182 |
2018-11-01 | $174,950 (0.0%) | $270,499 (2.7%) | 0.59 | 7,938 |
2018-12-01 | $169,900 (-0.1%) | $272,292 (4.6%) | 0.59 | 7,395 |
2019-01-01 | $169,900 (0.0%) | $272,667 (4.8%) | 0.59 | 7,000 |
2019-02-01 | $173,575 (2.2%) | $278,509 (5.0%) | 0.59 | 6,567 |
2019-03-01 | $181,929 (1.1%) | $290,060 (4.0%) | 0.59 | 6,382 |
2019-04-01 | $189,450 (2.5%) | $297,286 (4.3%) | 0.60 | 6,376 |
2019-05-01 | $195,850 (3.9%) | $302,229 (4.7%) | 0.61 | 6,526 |
2019-06-01 | $199,900 (8.1%) | $303,869 (7.5%) | 0.62 | 6,888 |
2019-07-01 | $199,900 (8.8%) | $301,611 (7.2%) | 0.63 | 7,162 |
2019-08-01 | $199,655 (9.5%) | $299,605 (7.8%) | 0.63 | 7,232 |
2019-09-01 | $199,286 (10.8%) | $297,667 (8.0%) | 0.64 | 7,358 |
2019-10-01 | $199,000 (10.9%) | $297,293 (9.1%) | 0.64 | 7,441 |
2019-11-01 | $193,950 (10.9%) | $299,023 (10.6%) | 0.64 | 7,129 |
2019-12-01 | $189,900 (11.8%) | $295,967 (8.7%) | 0.63 | 6,584 |
2020-01-01 | $189,950 (11.8%) | $303,691 (11.4%) | 0.63 | 6,154 |
2020-02-01 | $200,000 (15.2%) | $317,629 (14.1%) | 0.66 | 5,698 |
2020-03-01 | $214,950 (18.2%) | $328,028 (13.1%) | 0.67 | 5,440 |
2020-04-01 | $216,175 (14.1%) | $325,916 (9.6%) | 0.68 | 5,297 |
2020-05-01 | $225,000 (14.9%) | $329,164 (8.9%) | 0.68 | 5,478 |
2020-06-01 | $242,500 (21.3%) | $349,537 (15.0%) | 0.71 | 5,243 |
2020-07-01 | $249,450 (24.8%) | $358,428 (18.8%) | 0.72 | 4,968 |
2020-08-01 | $249,000 (24.7%) | $355,664 (18.7%) | 0.71 | 4,886 |
2020-09-01 | $243,950 (22.4%) | $356,035 (19.6%) | 0.70 | 4,864 |
2020-10-01 | $239,900 (20.6%) | $357,175 (20.1%) | 0.69 | 4,719 |
2020-11-01 | $239,450 (23.5%) | $355,100 (18.8%) | 0.70 | 4,367 |
2020-12-01 | $234,900 (23.7%) | $358,211 (21.0%) | 0.70 | 3,916 |
2021-01-01 | $239,000 (25.8%) | $368,448 (21.3%) | 0.71 | 3,398 |
2021-02-01 | $245,000 (22.5%) | $390,907 (23.1%) | 0.71 | 2,804 |
2021-03-01 | $249,900 (16.3%) | $405,826 (23.7%) | 0.71 | 2,688 |
2021-04-01 | $259,812 (20.2%) | $412,059 (26.4%) | 0.70 | 2,789 |
2021-05-01 | $260,000 (15.6%) | $407,917 (23.9%) | 0.69 | 2,961 |
2021-06-01 | $256,950 (6.0%) | $395,329 (13.1%) | 0.68 | 3,362 |
2021-07-01 | $239,999 (-3.8%) | $369,150 (3.0%) | 0.63 | 3,911 |
2021-08-01 | $229,900 (-7.7%) | $347,562 (-2.3%) | 0.61 | 4,189 |
2021-09-01 | $227,000 (-7.0%) | $340,973 (-4.2%) | 0.61 | 4,328 |
2021-10-01 | $225,000 (-6.2%) | $341,643 (-4.4%) | 0.60 | 4,238 |
2021-11-01 | $219,000 (-8.5%) | $338,770 (-4.6%) | 0.59 | 3,951 |
2021-12-01 | $209,900 (-10.6%) | $336,593 (-6.0%) | 0.57 | 3,492 |
2022-01-01 | $205,000 (-14.2%) | $345,100 (-6.3%) | 0.55 | 2,994 |
2022-02-01 | $214,925 (-12.3%) | $363,807 (-6.9%) | 0.56 | 2,556 |
2022-03-01 | $219,950 (-12.0%) | $372,432 (-8.2%) | 0.55 | 2,485 |
2022-04-01 | $225,000 (-13.4%) | $374,416 (-9.1%) | 0.54 | 2,600 |
2022-05-01 | $239,900 (-7.7%) | $370,463 (-9.2%) | 0.55 | 3,127 |
2022-06-01 | $239,900 (-6.6%) | $365,410 (-7.6%) | 0.53 | 3,529 |
2022-07-01 | $239,800 (-0.1%) | $361,240 (-2.1%) | 0.54 | 4,024 |
2022-08-01 | $232,500 (1.1%) | $349,757 (0.6%) | 0.54 | 4,280 |
2022-09-01 | $225,000 (-0.9%) | $337,943 (-0.9%) | 0.53 | 4,404 |
2022-10-01 | $219,900 (-2.3%) | $328,285 (-3.9%) | 0.52 | 4,581 |
2022-11-01 | $218,950 (0.0%) | $327,304 (-3.4%) | 0.53 | 4,536 |
2022-12-01 | $209,698 (-0.1%) | $324,476 (-3.6%) | 0.52 | 4,186 |
2023-01-01 | $199,950 (-2.5%) | $326,323 (-5.4%) | 0.50 | 3,706 |
2023-02-01 | $200,000 (-6.9%) | $335,854 (-7.7%) | 0.48 | 3,307 |
2023-03-01 | $215,000 (-2.3%) | $347,938 (-6.6%) | 0.51 | 3,156 |
2023-04-01 | $225,000 (0.0%) | $358,370 (-4.3%) | 0.52 | 3,277 |
2023-05-01 | $238,250 (-0.7%) | $370,009 (-0.1%) | 0.54 | 3,240 |
2023-06-01 | $240,450 (0.2%) | $386,119 (5.7%) | 0.54 | 3,495 |
2023-07-01 | $249,000 (3.8%) | $384,594 (6.5%) | 0.57 | 3,672 |
2023-08-01 | $249,900 (7.5%) | $395,709 (13.1%) | 0.57 | 3,831 |
2023-09-01 | $248,750 (10.6%) | $390,618 (15.6%) | 0.58 | 4,075 |
2023-10-01 | $246,750 (12.2%) | $387,649 (18.1%) | 0.58 | 4,358 |
Pittsburgh's median listing price comes in at 58% of the national average.
Pittsburgh's average listing price for 2023-10-01 was $387,649, a difference of $59,364 (18.1%) versus the prior year and $-2,969 versus the prior month.
For the 2023-10-01 period, Pittsburgh had 4,358 MLS listings, a difference of 283 listings (7%) versus the prior month and -223 listings (-5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 109 days | 1,664 sqft |
2018-02-01 | 111 days | 1,673 sqft |
2018-03-01 | 96 days | 1,704 sqft |
2018-04-01 | 70 days | 1,746 sqft |
2018-05-01 | 62 days | 1,745 sqft |
2018-06-01 | 57 days | 1,725 sqft |
2018-07-01 | 59 days | 1,698 sqft |
2018-08-01 | 63 days | 1,681 sqft |
2018-09-01 | 69 days | 1,696 sqft |
2018-10-01 | 73 days | 1,673 sqft |
2018-11-01 | 77 days | 1,664 sqft |
2018-12-01 | 88 days | 1,640 sqft |
2019-01-01 | 102 days | 1,632 sqft |
2019-02-01 | 104 days | 1,647 sqft |
2019-03-01 | 88 days | 1,675 sqft |
2019-04-01 | 65 days | 1,677 sqft |
2019-05-01 | 58 days | 1,698 sqft |
2019-06-01 | 57 days | 1,709 sqft |
2019-07-01 | 59 days | 1,720 sqft |
2019-08-01 | 61 days | 1,713 sqft |
2019-09-01 | 64 days | 1,704 sqft |
2019-10-01 | 67 days | 1,695 sqft |
2019-11-01 | 73 days | 1,680 sqft |
2019-12-01 | 87 days | 1,663 sqft |
2020-01-01 | 96 days | 1,680 sqft |
2020-02-01 | 95 days | 1,712 sqft |
2020-03-01 | 74 days | 1,725 sqft |
2020-04-01 | 83 days | 1,741 sqft |
2020-05-01 | 88 days | 1,764 sqft |
2020-06-01 | 83 days | 1,796 sqft |
2020-07-01 | 53 days | 1,795 sqft |
2020-08-01 | 52 days | 1,776 sqft |
2020-09-01 | 53 days | 1,745 sqft |
2020-10-01 | 56 days | 1,716 sqft |
2020-11-01 | 64 days | 1,680 sqft |
2020-12-01 | 73 days | 1,680 sqft |
2021-01-01 | 87 days | 1,679 sqft |
2021-02-01 | 87 days | 1,681 sqft |
2021-03-01 | 65 days | 1,699 sqft |
2021-04-01 | 44 days | 1,702 sqft |
2021-05-01 | 44 days | 1,701 sqft |
2021-06-01 | 40 days | 1,689 sqft |
2021-07-01 | 39 days | 1,628 sqft |
2021-08-01 | 41 days | 1,605 sqft |
2021-09-01 | 46 days | 1,598 sqft |
2021-10-01 | 50 days | 1,584 sqft |
2021-11-01 | 55 days | 1,564 sqft |
2021-12-01 | 65 days | 1,558 sqft |
2022-01-01 | 78 days | 1,562 sqft |
2022-02-01 | 78 days | 1,615 sqft |
2022-03-01 | 57 days | 1,612 sqft |
2022-04-01 | 39 days | 1,632 sqft |
2022-05-01 | 37 days | 1,627 sqft |
2022-06-01 | 37 days | 1,620 sqft |
2022-07-01 | 39 days | 1,622 sqft |
2022-08-01 | 44 days | 1,612 sqft |
2022-09-01 | 50 days | 1,584 sqft |
2022-10-01 | 54 days | 1,573 sqft |
2022-11-01 | 59 days | 1,567 sqft |
2022-12-01 | 72 days | 1,549 sqft |
2023-01-01 | 86 days | 1,543 sqft |
2023-02-01 | 89 days | 1,542 sqft |
2023-03-01 | 64 days | 1,569 sqft |
2023-04-01 | 46 days | 1,600 sqft |
2023-05-01 | 46 days | 1,611 sqft |
2023-06-01 | 47 days | 1,636 sqft |
2023-07-01 | 47 days | 1,632 sqft |
2023-08-01 | 48 days | 1,651 sqft |
2023-09-01 | 51 days | 1,617 sqft |
2023-10-01 | 51 days | 1,606 sqft |
Pittsburgh's median square footage for active listings during the 2023-10-01 period was 1,606 sqft. One year prior, the average listing was 1,573 sqft.