Rochester USDA Loan Rates, Closing Costs & Stats
ROCHESTER, MN
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.
Rochester's 7 lenders originated 12 USDA loans during 2023. The total origination value was $2,690,000, with an average USDA loan value of $224,167.
Rochester USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Rochester
averaged
-0.38%
for the week of 2024-11-15, compared to the national average (all USDA variants) of
0% for the same period.
Rochester's average USDA mortgage closing costs are $5,505.
The average rate for the prior week (2024-11-08) was
6.38% and
one month ago for the week of 2024-10-11, the
average rate was 5.74%.
The average rate one year ago was 6.97%.
For refis of the same type during the week of 2024-11-15, the average rate
was 0.19%.
Rochester 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 Rochester level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 5.67% | $8,961 |
| Century Mortgage Company DBA Century Lending Company | 2 | 6.25% | $9,740 |
| Bell Bank | 2 | 6.50% | $9,245 |
| U.S. Bank | 1 | 6.75% | $7,792 |
| Merchants Bank | 1 | 5.15% | $7,378 |
| Home Federal Savings Bank | 1 | 7.75% | $4,633 |
| SUN WEST MORTGAGE COMPANY, INC. | 1 | 6.75% | $7,871 |
The top Rochester USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
3 USDA loans originated. Their average total fees are
$8,961, which is $779
lower than the next largest lender,
Century Mortgage Company DBA Century Lending Company.
The lowest fee Rochester USDA lenders (with over 10 loans originated) are
.
The lowest rate Rochester USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Rochester (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 | $294,353 (21.4%) | $329,513 (12.6%) | 1.09 | 496 |
| 2018-02-01 | $299,200 (21.4%) | $341,398 (16.2%) | 1.09 | 490 |
| 2018-03-01 | $319,900 (27.7%) | $360,296 (19.8%) | 1.12 | 552 |
| 2018-04-01 | $314,900 (12.5%) | $362,808 (15.2%) | 1.07 | 584 |
| 2018-05-01 | $304,475 (10.8%) | $359,002 (11.9%) | 1.02 | 606 |
| 2018-06-01 | $299,900 (10.1%) | $353,964 (10.1%) | 1.00 | 642 |
| 2018-07-01 | $295,725 (9.5%) | $347,977 (9.6%) | 0.99 | 722 |
| 2018-08-01 | $283,200 (3.0%) | $334,261 (6.2%) | 0.95 | 739 |
| 2018-09-01 | $279,900 (7.7%) | $329,024 (7.5%) | 0.94 | 783 |
| 2018-10-01 | $274,950 (3.3%) | $322,071 (3.2%) | 0.93 | 782 |
| 2018-11-01 | $274,900 (-0.8%) | $324,692 (4.0%) | 0.93 | 732 |
| 2018-12-01 | $296,450 (5.9%) | $341,416 (7.9%) | 1.02 | 638 |
| 2019-01-01 | $307,950 (4.6%) | $353,599 (7.3%) | 1.06 | 490 |
| 2019-02-01 | $303,225 (1.4%) | $355,534 (4.1%) | 1.02 | 378 |
| 2019-03-01 | $313,329 (-2.1%) | $358,144 (-0.6%) | 1.02 | 504 |
| 2019-04-01 | $319,900 (1.6%) | $365,430 (0.7%) | 1.02 | 655 |
| 2019-05-01 | $319,050 (4.8%) | $360,446 (0.4%) | 1.00 | 698 |
| 2019-06-01 | $309,900 (3.3%) | $359,396 (1.5%) | 0.97 | 709 |
| 2019-07-01 | $309,450 (4.6%) | $359,467 (3.3%) | 0.97 | 744 |
| 2019-08-01 | $307,173 (8.5%) | $357,955 (7.1%) | 0.97 | 752 |
| 2019-09-01 | $303,082 (8.3%) | $354,861 (7.9%) | 0.97 | 765 |
| 2019-10-01 | $298,575 (8.6%) | $351,141 (9.0%) | 0.96 | 767 |
| 2019-11-01 | $294,900 (7.3%) | $348,701 (7.4%) | 0.97 | 725 |
| 2019-12-01 | $298,700 (0.8%) | $355,828 (4.2%) | 1.00 | 600 |
| 2020-01-01 | $309,175 (0.4%) | $356,717 (0.9%) | 1.03 | 525 |
| 2020-02-01 | $319,950 (5.5%) | $373,241 (5.0%) | 1.05 | 474 |
| 2020-03-01 | $317,450 (1.3%) | $374,902 (4.7%) | 1.00 | 506 |
| 2020-04-01 | $319,950 (0.0%) | $370,116 (1.3%) | 1.00 | 552 |
| 2020-05-01 | $321,250 (0.7%) | $378,297 (5.0%) | 0.98 | 561 |
| 2020-06-01 | $328,725 (6.1%) | $389,683 (8.4%) | 0.97 | 535 |
| 2020-07-01 | $329,900 (6.6%) | $399,982 (11.3%) | 0.96 | 484 |
| 2020-08-01 | $320,000 (4.2%) | $394,674 (10.3%) | 0.92 | 479 |
| 2020-09-01 | $309,975 (2.3%) | $388,845 (9.6%) | 0.89 | 452 |
| 2020-10-01 | $298,500 (0.0%) | $377,285 (7.5%) | 0.86 | 449 |
| 2020-11-01 | $287,400 (-2.5%) | $385,700 (10.6%) | 0.84 | 362 |
| 2020-12-01 | $292,450 (-2.1%) | $391,383 (10.0%) | 0.87 | 291 |
| 2021-01-01 | $302,400 (-2.2%) | $404,364 (13.4%) | 0.90 | 242 |
| 2021-02-01 | $316,400 (-1.1%) | $409,997 (9.9%) | 0.92 | 242 |
| 2021-03-01 | $326,075 (2.7%) | $410,702 (9.6%) | 0.93 | 261 |
| 2021-04-01 | $331,225 (3.5%) | $411,401 (11.2%) | 0.90 | 239 |
| 2021-05-01 | $338,500 (5.4%) | $416,322 (10.1%) | 0.90 | 223 |
| 2021-06-01 | $338,225 (2.9%) | $410,133 (5.3%) | 0.89 | 253 |
| 2021-07-01 | $336,500 (2.0%) | $419,891 (5.0%) | 0.89 | 324 |
| 2021-08-01 | $319,900 (0.0%) | $417,635 (5.8%) | 0.85 | 364 |
| 2021-09-01 | $327,000 (5.5%) | $410,142 (5.5%) | 0.87 | 401 |
| 2021-10-01 | $336,500 (12.7%) | $414,957 (10.0%) | 0.90 | 423 |
| 2021-11-01 | $343,950 (19.7%) | $426,060 (10.5%) | 0.92 | 375 |
| 2021-12-01 | $349,900 (19.6%) | $439,082 (12.2%) | 0.95 | 303 |
| 2022-01-01 | $355,000 (17.4%) | $441,460 (9.2%) | 0.96 | 242 |
| 2022-02-01 | $377,425 (19.3%) | $473,697 (15.5%) | 0.98 | 205 |
| 2022-03-01 | $379,000 (16.2%) | $472,213 (15.0%) | 0.95 | 224 |
| 2022-04-01 | $389,450 (17.6%) | $465,474 (13.1%) | 0.93 | 255 |
| 2022-05-01 | $392,475 (16.0%) | $479,428 (15.2%) | 0.90 | 293 |
| 2022-06-01 | $379,000 (12.1%) | $468,993 (14.4%) | 0.84 | 333 |
| 2022-07-01 | $364,900 (8.4%) | $454,662 (8.3%) | 0.82 | 394 |
| 2022-08-01 | $377,500 (18.0%) | $463,334 (10.9%) | 0.87 | 414 |
| 2022-09-01 | $370,425 (13.3%) | $464,510 (13.3%) | 0.87 | 429 |
| 2022-10-01 | $382,450 (13.7%) | $459,325 (10.7%) | 0.90 | 461 |
| 2022-11-01 | $385,175 (12.0%) | $454,603 (6.7%) | 0.93 | 428 |
| 2022-12-01 | $381,950 (9.2%) | $451,332 (2.8%) | 0.94 | 357 |
| 2023-01-01 | $394,900 (11.2%) | $458,736 (3.9%) | 0.98 | 302 |
| 2023-02-01 | $413,828 (9.7%) | $488,214 (3.1%) | 1.00 | 273 |
| 2023-03-01 | $414,171 (9.3%) | $498,326 (5.5%) | 0.98 | 308 |
| 2023-04-01 | $414,900 (6.5%) | $500,582 (7.5%) | 0.96 | 337 |
| 2023-05-01 | $418,393 (6.6%) | $513,104 (7.0%) | 0.95 | 346 |
| 2023-06-01 | $418,393 (10.4%) | $510,184 (8.8%) | 0.94 | 363 |
| 2023-07-01 | $410,000 (12.4%) | $501,082 (10.2%) | 0.93 | 367 |
| 2023-08-01 | $399,925 (5.9%) | $486,722 (5.1%) | 0.92 | 442 |
| 2023-09-01 | $385,000 (3.9%) | $465,387 (0.2%) | 0.90 | 467 |
| 2023-10-01 | $385,000 (0.7%) | $461,984 (0.6%) | 0.91 | 505 |
| 2023-11-01 | $380,925 (-1.1%) | $470,118 (3.4%) | 0.91 | 489 |
| 2023-12-01 | $379,900 (-0.5%) | $474,629 (5.2%) | 0.93 | 431 |
| 2024-01-01 | $404,995 (2.6%) | $519,130 (13.2%) | 0.99 | 344 |
| 2024-02-01 | $399,950 (-3.4%) | $537,069 (10.0%) | 0.96 | 315 |
| 2024-03-01 | $419,900 (1.4%) | $538,475 (8.1%) | 0.99 | 346 |
| 2024-04-01 | $430,700 (3.8%) | $550,407 (10.0%) | 1.00 | 380 |
| 2024-05-01 | $434,950 (4.0%) | $552,264 (7.6%) | 0.98 | 432 |
| 2024-06-01 | $419,250 (0.2%) | $546,554 (7.1%) | 0.94 | 471 |
| 2024-07-01 | $415,975 (1.5%) | $534,415 (6.7%) | 0.95 | 519 |
| 2024-08-01 | $419,900 (5.0%) | $542,709 (11.5%) | 0.98 | 517 |
| 2024-09-01 | $404,925 (5.2%) | $538,249 (15.7%) | 0.95 | 553 |
| 2024-10-01 | $420,000 (9.1%) | $538,393 (16.5%) | 0.99 | 559 |
Rochester's median listing price comes in at 99% of the national average.
Rochester's average listing price for 2024-10-01 was $538,393, a difference of $76,409 (16.5%) versus the prior year and $144 versus the prior month.
For the 2024-10-01 period, Rochester had 559 MLS listings, a difference of 6 listings (1%) versus the prior month and 54 listings (11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Rochester (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 88 days | 2,567 sqft |
| 2018-02-01 | 89 days | 2,600 sqft |
| 2018-03-01 | 48 days | 2,800 sqft |
| 2018-04-01 | 43 days | 2,781 sqft |
| 2018-05-01 | 47 days | 2,721 sqft |
| 2018-06-01 | 46 days | 2,729 sqft |
| 2018-07-01 | 49 days | 2,727 sqft |
| 2018-08-01 | 55 days | 2,616 sqft |
| 2018-09-01 | 57 days | 2,596 sqft |
| 2018-10-01 | 59 days | 2,520 sqft |
| 2018-11-01 | 66 days | 2,524 sqft |
| 2018-12-01 | 81 days | 2,536 sqft |
| 2019-01-01 | 93 days | 2,094 sqft |
| 2019-02-01 | 64 days | 2,102 sqft |
| 2019-03-01 | 49 days | 2,151 sqft |
| 2019-04-01 | 46 days | 2,206 sqft |
| 2019-05-01 | 47 days | 2,210 sqft |
| 2019-06-01 | 51 days | 2,240 sqft |
| 2019-07-01 | 50 days | 2,250 sqft |
| 2019-08-01 | 51 days | 2,253 sqft |
| 2019-09-01 | 55 days | 2,224 sqft |
| 2019-10-01 | 59 days | 2,198 sqft |
| 2019-11-01 | 71 days | 2,163 sqft |
| 2019-12-01 | 86 days | 2,152 sqft |
| 2020-01-01 | 86 days | 2,127 sqft |
| 2020-02-01 | 88 days | 2,208 sqft |
| 2020-03-01 | 44 days | 2,167 sqft |
| 2020-04-01 | 42 days | 2,185 sqft |
| 2020-05-01 | 50 days | 2,234 sqft |
| 2020-06-01 | 52 days | 2,247 sqft |
| 2020-07-01 | 51 days | 2,310 sqft |
| 2020-08-01 | 46 days | 2,210 sqft |
| 2020-09-01 | 47 days | 2,166 sqft |
| 2020-10-01 | 45 days | 2,109 sqft |
| 2020-11-01 | 53 days | 2,045 sqft |
| 2020-12-01 | 58 days | 2,062 sqft |
| 2021-01-01 | 63 days | 1,978 sqft |
| 2021-02-01 | 50 days | 2,017 sqft |
| 2021-03-01 | 32 days | 2,091 sqft |
| 2021-04-01 | 31 days | 2,023 sqft |
| 2021-05-01 | 36 days | 2,096 sqft |
| 2021-06-01 | 32 days | 2,085 sqft |
| 2021-07-01 | 36 days | 2,090 sqft |
| 2021-08-01 | 36 days | 2,098 sqft |
| 2021-09-01 | 42 days | 2,087 sqft |
| 2021-10-01 | 43 days | 2,123 sqft |
| 2021-11-01 | 45 days | 2,073 sqft |
| 2021-12-01 | 58 days | 2,064 sqft |
| 2022-01-01 | 65 days | 2,198 sqft |
| 2022-02-01 | 40 days | 2,540 sqft |
| 2022-03-01 | 31 days | 2,513 sqft |
| 2022-04-01 | 31 days | 2,544 sqft |
| 2022-05-01 | 33 days | 2,330 sqft |
| 2022-06-01 | 36 days | 2,179 sqft |
| 2022-07-01 | 37 days | 2,138 sqft |
| 2022-08-01 | 39 days | 2,147 sqft |
| 2022-09-01 | 46 days | 2,120 sqft |
| 2022-10-01 | 47 days | 2,149 sqft |
| 2022-11-01 | 59 days | 2,136 sqft |
| 2022-12-01 | 73 days | 2,085 sqft |
| 2023-01-01 | 84 days | 2,097 sqft |
| 2023-02-01 | 69 days | 2,198 sqft |
| 2023-03-01 | 47 days | 2,229 sqft |
| 2023-04-01 | 39 days | 2,225 sqft |
| 2023-05-01 | 39 days | 2,343 sqft |
| 2023-06-01 | 46 days | 2,354 sqft |
| 2023-07-01 | 47 days | 2,334 sqft |
| 2023-08-01 | 41 days | 2,257 sqft |
| 2023-09-01 | 42 days | 2,149 sqft |
| 2023-10-01 | 47 days | 2,151 sqft |
| 2023-11-01 | 57 days | 2,158 sqft |
| 2023-12-01 | 69 days | 2,092 sqft |
| 2024-01-01 | 77 days | 2,149 sqft |
| 2024-02-01 | 73 days | 2,150 sqft |
| 2024-03-01 | 39 days | 2,241 sqft |
| 2024-04-01 | 39 days | 2,260 sqft |
| 2024-05-01 | 39 days | 2,285 sqft |
| 2024-06-01 | 44 days | 2,239 sqft |
| 2024-07-01 | 42 days | 2,249 sqft |
| 2024-08-01 | 49 days | 2,239 sqft |
| 2024-09-01 | 47 days | 2,154 sqft |
| 2024-10-01 | 50 days | 2,229 sqft |
Rochester's median square footage for active listings during the 2024-10-01 period was 2,229 sqft. One year prior, the average listing was 2,151 sqft.