Reno USDA Loan Rates, Closing Costs & Stats

RENO, NV

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.

Reno's 0 lenders originated 1 USDA loans during 2023. The total origination value was $285,000, with an average USDA loan value of $285,000.

Reno USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Reno averaged 6.28% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

Reno's average USDA mortgage closing costs are $8,078.

The average rate for the prior week (2024-04-05) was 6.61% and one month ago for the week of 2024-03-08, the average rate was 6.27%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.97%.

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

Reno 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 Reno level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Reno (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 $487,175 (13.2%) $1,196,170 (36.7%) 1.81 804
2018-02-01 $490,009 (12.0%) $1,196,764 (32.2%) 1.78 774
2018-03-01 $498,248 (15.1%) $1,140,870 (29.5%) 1.75 781
2018-04-01 $516,782 (18.8%) $1,134,098 (29.8%) 1.75 859
2018-05-01 $487,000 (8.9%) $1,057,689 (20.9%) 1.63 974
2018-06-01 $480,000 (6.5%) $1,024,597 (17.1%) 1.60 1,087
2018-07-01 $469,000 (-0.2%) $967,089 (-0.9%) 1.57 1,388
2018-08-01 $450,000 (-1.9%) $924,927 (-2.7%) 1.51 1,588
2018-09-01 $449,000 (-6.3%) $891,702 (-9.0%) 1.51 1,715
2018-10-01 $429,450 (-8.5%) $856,172 (-13.5%) 1.45 1,805
2018-11-01 $426,450 (-12.5%) $858,402 (-17.1%) 1.45 1,744
2018-12-01 $424,000 (-13.5%) $861,306 (-20.1%) 1.46 1,639
2019-01-01 $427,450 (-12.3%) $911,122 (-23.8%) 1.48 1,429
2019-02-01 $433,633 (-11.5%) $953,502 (-20.3%) 1.47 1,312
2019-03-01 $450,657 (-9.6%) $971,170 (-14.9%) 1.47 1,259
2019-04-01 $460,706 (-10.9%) $969,211 (-14.5%) 1.46 1,259
2019-05-01 $456,325 (-6.3%) $921,862 (-12.8%) 1.43 1,459
2019-06-01 $472,000 (-1.7%) $911,295 (-11.1%) 1.48 1,628
2019-07-01 $472,995 (0.9%) $912,555 (-5.6%) 1.48 1,787
2019-08-01 $467,909 (4.0%) $920,805 (-0.5%) 1.48 1,803
2019-09-01 $466,273 (3.9%) $936,520 (5.0%) 1.49 1,741
2019-10-01 $465,000 (8.3%) $960,844 (12.2%) 1.50 1,673
2019-11-01 $465,000 (9.0%) $1,009,062 (17.6%) 1.52 1,482
2019-12-01 $472,450 (11.4%) $1,078,793 (25.3%) 1.58 1,231
2020-01-01 $482,500 (12.9%) $1,143,452 (25.5%) 1.61 1,053
2020-02-01 $519,998 (19.9%) $1,246,107 (30.7%) 1.70 889
2020-03-01 $511,998 (13.6%) $1,214,927 (25.1%) 1.61 921
2020-04-01 $486,500 (5.6%) $1,066,206 (10.0%) 1.52 1,147
2020-05-01 $499,000 (9.4%) $1,081,153 (17.3%) 1.52 1,165
2020-06-01 $543,688 (15.2%) $1,223,830 (34.3%) 1.60 1,050
2020-07-01 $559,391 (18.3%) $1,075,399 (17.8%) 1.62 904
2020-08-01 $549,000 (17.3%) $1,077,319 (17.0%) 1.57 812
2020-09-01 $567,500 (21.7%) $1,091,928 (16.6%) 1.63 728
2020-10-01 $559,927 (20.4%) $1,206,204 (25.5%) 1.60 646
2020-11-01 $539,596 (16.0%) $1,198,750 (18.8%) 1.58 518
2020-12-01 $554,250 (17.3%) $1,232,422 (14.2%) 1.65 411
2021-01-01 $564,800 (17.1%) $1,213,275 (6.1%) 1.69 362
2021-02-01 $518,450 (-0.3%) $1,039,891 (-16.6%) 1.51 317
2021-03-01 $501,250 (-2.1%) $1,064,944 (-12.4%) 1.42 354
2021-04-01 $509,375 (4.7%) $907,368 (-14.9%) 1.38 569
2021-05-01 $546,944 (9.6%) $986,884 (-8.7%) 1.45 427
2021-06-01 $585,000 (7.6%) $1,051,995 (-14.0%) 1.54 436
2021-07-01 $600,000 (7.3%) $1,071,346 (-0.4%) 1.58 561
2021-08-01 $599,900 (9.3%) $1,105,913 (2.7%) 1.60 679
2021-09-01 $599,225 (5.6%) $1,101,441 (0.9%) 1.60 766
2021-10-01 $625,000 (11.6%) $1,113,978 (-7.7%) 1.67 758
2021-11-01 $626,575 (16.1%) $1,164,608 (-2.9%) 1.67 647
2021-12-01 $625,000 (12.8%) $1,198,097 (-2.8%) 1.69 470
2022-01-01 $645,000 (14.2%) $1,318,919 (8.7%) 1.74 379
2022-02-01 $649,850 (25.3%) $1,417,939 (36.4%) 1.69 348
2022-03-01 $645,000 (28.7%) $1,417,150 (33.1%) 1.61 393
2022-04-01 $689,900 (35.4%) $1,255,363 (38.4%) 1.64 561
2022-05-01 $685,474 (25.3%) $1,207,958 (22.4%) 1.57 860
2022-06-01 $672,750 (15.0%) $1,179,356 (12.1%) 1.50 1,282
2022-07-01 $640,000 (6.7%) $1,116,661 (4.2%) 1.44 1,586
2022-08-01 $632,500 (5.4%) $1,089,458 (-1.5%) 1.46 1,659
2022-09-01 $624,973 (4.3%) $1,072,204 (-2.7%) 1.46 1,606
2022-10-01 $599,997 (-4.0%) $1,078,809 (-3.2%) 1.41 1,601
2022-11-01 $599,900 (-4.3%) $1,121,276 (-3.7%) 1.44 1,444
2022-12-01 $599,999 (-4.0%) $1,156,128 (-3.5%) 1.48 1,176
2023-01-01 $617,000 (-4.3%) $1,182,809 (-10.3%) 1.53 956
2023-02-01 $630,000 (-3.1%) $1,247,014 (-12.1%) 1.52 789
2023-03-01 $647,450 (0.4%) $1,235,410 (-12.8%) 1.53 719
2023-04-01 $675,000 (-2.2%) $1,254,276 (-0.1%) 1.57 697
2023-05-01 $683,750 (-0.3%) $1,282,310 (6.2%) 1.55 838
2023-06-01 $689,366 (2.5%) $1,278,316 (8.4%) 1.55 959
2023-07-01 $699,000 (9.2%) $1,334,655 (19.5%) 1.59 1,034
2023-08-01 $699,500 (10.6%) $1,352,870 (24.2%) 1.61 1,067
2023-09-01 $699,000 (11.8%) $1,328,056 (23.9%) 1.63 1,111
2023-10-01 $676,975 (12.8%) $1,335,372 (23.8%) 1.59 1,123
2023-11-01 $651,249 (8.6%) $1,320,650 (17.8%) 1.55 1,044
2023-12-01 $647,500 (7.9%) $1,304,951 (12.9%) 1.58 935
2024-01-01 $646,250 (4.7%) $1,324,552 (12.0%) 1.58 839
2024-02-01 $652,000 (3.5%) $1,349,196 (8.2%) 1.57 752
2024-03-01 $659,498 (1.9%) $1,351,740 (9.4%) 1.55 754
Reno's median listing price for 2024-03-01 was $659,498, a difference of $12,048 (1.9%) versus the prior year and $7,498 versus the prior month.

Reno's median listing price comes in at 155% of the national average.

Reno's average listing price for 2024-03-01 was $1,351,740, a difference of $116,330 (9.4%) versus the prior year and $2,544 versus the prior month.

For the 2024-03-01 period, Reno had 754 MLS listings, a difference of 2 listings (0%) versus the prior month and 35 listings (5%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Reno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 73 days 2,355 sqft
2018-02-01 50 days 2,329 sqft
2018-03-01 43 days 2,274 sqft
2018-04-01 43 days 2,319 sqft
2018-05-01 36 days 2,147 sqft
2018-06-01 37 days 2,128 sqft
2018-07-01 37 days 2,110 sqft
2018-08-01 40 days 2,084 sqft
2018-09-01 45 days 2,076 sqft
2018-10-01 52 days 2,030 sqft
2018-11-01 59 days 2,009 sqft
2018-12-01 71 days 2,010 sqft
2019-01-01 78 days 1,989 sqft
2019-02-01 71 days 2,020 sqft
2019-03-01 58 days 2,080 sqft
2019-04-01 44 days 2,139 sqft
2019-05-01 38 days 2,111 sqft
2019-06-01 41 days 2,158 sqft
2019-07-01 44 days 2,131 sqft
2019-08-01 48 days 2,120 sqft
2019-09-01 55 days 2,148 sqft
2019-10-01 59 days 2,164 sqft
2019-11-01 65 days 2,129 sqft
2019-12-01 72 days 2,186 sqft
2020-01-01 75 days 2,194 sqft
2020-02-01 58 days 2,293 sqft
2020-03-01 37 days 2,195 sqft
2020-04-01 40 days 2,118 sqft
2020-05-01 43 days 2,191 sqft
2020-06-01 44 days 2,290 sqft
2020-07-01 43 days 2,307 sqft
2020-08-01 41 days 2,204 sqft
2020-09-01 32 days 2,220 sqft
2020-10-01 43 days 2,160 sqft
2020-11-01 48 days 2,096 sqft
2020-12-01 55 days 2,103 sqft
2021-01-01 50 days 2,100 sqft
2021-02-01 34 days 1,932 sqft
2021-03-01 18 days 1,868 sqft
2021-04-01 17 days 1,849 sqft
2021-05-01 26 days 1,868 sqft
2021-06-01 29 days 1,930 sqft
2021-07-01 28 days 2,006 sqft
2021-08-01 30 days 1,995 sqft
2021-09-01 32 days 1,944 sqft
2021-10-01 37 days 2,084 sqft
2021-11-01 41 days 2,037 sqft
2021-12-01 50 days 2,030 sqft
2022-01-01 52 days 2,023 sqft
2022-02-01 32 days 2,018 sqft
2022-03-01 26 days 2,008 sqft
2022-04-01 25 days 2,106 sqft
2022-05-01 25 days 2,071 sqft
2022-06-01 29 days 2,066 sqft
2022-07-01 36 days 2,029 sqft
2022-08-01 49 days 2,034 sqft
2022-09-01 58 days 2,024 sqft
2022-10-01 61 days 2,016 sqft
2022-11-01 68 days 2,019 sqft
2022-12-01 81 days 2,015 sqft
2023-01-01 92 days 2,024 sqft
2023-02-01 85 days 2,030 sqft
2023-03-01 59 days 2,064 sqft
2023-04-01 44 days 2,161 sqft
2023-05-01 37 days 2,165 sqft
2023-06-01 38 days 2,177 sqft
2023-07-01 42 days 2,229 sqft
2023-08-01 44 days 2,223 sqft
2023-09-01 50 days 2,189 sqft
2023-10-01 55 days 2,154 sqft
2023-11-01 60 days 2,135 sqft
2023-12-01 69 days 2,081 sqft
2024-01-01 78 days 2,082 sqft
2024-02-01 70 days 2,044 sqft
2024-03-01 51 days 2,053 sqft
Reno's median listing age (time on market) for 2024-03-01 was 51 days. This is -14% shorter than the same period one year ago.

Reno's median square footage for active listings during the 2024-03-01 period was 2,053 sqft. One year prior, the average listing was 2,064 sqft.