Sioux City USDA Loans

SIOUX CITY, IA-NE-SD

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.

Sioux City's 12 lenders originated 28 USDA loans during 2021. The total origination value was $4,180,000, with an average USDA loan value of $149,286.

Sioux City USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Sioux City averaged 5.24% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-05-06) was 5.48% and one month ago for the week of 2022-04-08, the average rate was 5.04%.

The average rate one year ago was 3.05%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.13%.

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

Sioux City USDA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sioux City level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Plains Commerce Bank 8 2.91% $5,067
Great Southern Bank 4 2.72% $4,562
Community Mortgage Banc Corporation 3 3.25% $4,215
West Gate Bank 2 2.75% $4,003
First Bank & Trust 2 2.63% $3,772
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 3.38% $5,670
First Dakota National Bank 1 2.88% $4,058
Bank of England 1 2.88% $5,827
LAKEVIEW LOAN SERVICING, LLC 1 3.00% $3,199
Central Bank 1 2.88% $5,034
Reliabank Dakota 1 3.25% $3,431
First PREMIER Bank 1 2.38% $2,626

The top Sioux City USDA lender as defined by loan originations is Plains Commerce Bank, with 8 USDA loans originated. Their average total fees are $5,067, which is $505 higher than the next largest lender, Great Southern Bank.

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

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


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sioux City (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 $199,950 (11.2%) $265,623 (10.8%) 0.74 371
2018-02-01 $209,000 (16.3%) $268,101 (16.1%) 0.75 346
2018-03-01 $206,600 (7.9%) $259,378 (7.7%) 0.71 347
2018-04-01 $207,050 (6.2%) $253,080 (2.5%) 0.69 399
2018-05-01 $208,750 (9.2%) $255,405 (0.3%) 0.70 404
2018-06-01 $215,000 (13.2%) $257,176 (1.7%) 0.72 390
2018-07-01 $218,000 (9.1%) $257,106 (2.5%) 0.73 385
2018-08-01 $207,800 (7.4%) $253,685 (1.5%) 0.69 390
2018-09-01 $209,900 (7.7%) $252,722 (-0.2%) 0.70 411
2018-10-01 $214,925 (7.6%) $255,289 (0.9%) 0.72 417
2018-11-01 $210,000 (7.6%) $251,977 (1.3%) 0.70 421
2018-12-01 $204,900 (2.5%) $254,930 (-0.8%) 0.70 407
2019-01-01 $199,975 (0.0%) $246,836 (-7.1%) 0.69 393
2019-02-01 $215,800 (3.3%) $248,580 (-7.3%) 0.72 363
2019-03-01 $224,486 (8.7%) $260,371 (0.4%) 0.73 339
2019-04-01 $240,000 (15.9%) $277,440 (9.6%) 0.76 318
2019-05-01 $246,375 (18.0%) $291,875 (14.3%) 0.76 329
2019-06-01 $249,900 (16.2%) $296,852 (15.4%) 0.77 336
2019-07-01 $233,325 (7.0%) $279,839 (8.8%) 0.73 349
2019-08-01 $226,671 (9.1%) $271,160 (6.9%) 0.71 367
2019-09-01 $217,450 (3.6%) $258,689 (2.4%) 0.69 401
2019-10-01 $198,750 (-7.5%) $247,446 (-3.1%) 0.63 438
2019-11-01 $192,500 (-8.3%) $242,348 (-3.8%) 0.62 437
2019-12-01 $192,250 (-6.2%) $244,145 (-4.2%) 0.64 402
2020-01-01 $192,000 (-4.0%) $245,216 (-0.7%) 0.64 380
2020-02-01 $197,500 (-8.5%) $246,676 (-0.8%) 0.64 359
2020-03-01 $202,500 (-9.8%) $254,499 (-2.3%) 0.63 342
2020-04-01 $219,950 (-8.4%) $258,561 (-6.8%) 0.69 340
2020-05-01 $229,900 (-6.7%) $272,054 (-6.8%) 0.70 341
2020-06-01 $233,900 (-6.4%) $270,680 (-8.8%) 0.68 365
2020-07-01 $236,725 (1.5%) $272,499 (-2.6%) 0.68 341
2020-08-01 $224,900 (-0.8%) $272,057 (0.3%) 0.64 319
2020-09-01 $222,250 (2.2%) $272,343 (5.3%) 0.64 318
2020-10-01 $217,000 (9.2%) $270,094 (9.2%) 0.62 299
2020-11-01 $218,500 (13.5%) $273,067 (12.7%) 0.63 288
2020-12-01 $231,200 (20.3%) $274,564 (12.5%) 0.68 253
2021-01-01 $249,500 (30.0%) $281,474 (14.8%) 0.73 226
2021-02-01 $255,000 (29.1%) $289,509 (17.4%) 0.73 210
2021-03-01 $261,750 (29.3%) $296,225 (16.4%) 0.73 197
2021-04-01 $277,450 (26.1%) $319,893 (23.7%) 0.75 181
2021-05-01 $264,500 (15.1%) $310,999 (14.3%) 0.70 186
2021-06-01 $264,975 (13.3%) $303,230 (12.0%) 0.69 195
2021-07-01 $235,000 (-0.7%) $288,651 (5.9%) 0.61 207
2021-08-01 $227,450 (1.1%) $287,544 (5.7%) 0.60 236
2021-09-01 $206,000 (-7.3%) $268,345 (-1.5%) 0.54 230
2021-10-01 $199,500 (-8.1%) $256,543 (-5.0%) 0.53 234
2021-11-01 $193,450 (-11.5%) $288,546 (5.7%) 0.51 207
2021-12-01 $205,000 (-11.3%) $307,603 (12.0%) 0.55 171
2022-01-01 $205,000 (-17.8%) $336,548 (19.6%) 0.55 131
2022-02-01 $290,750 (14.0%) $375,724 (29.8%) 0.74 131
2022-03-01 $294,000 (12.3%) $385,755 (30.2%) 0.73 120
2022-04-01 $310,000 (11.7%) $388,391 (21.4%) 0.73 123
Sioux City's median listing price for 2022-04-01 was $310,000, a difference of $32,550 (11.7%) versus the prior year and $16,000 versus the prior month.

Sioux City's median listing price comes in at 73% of the national average.

Sioux City's average listing price for 2022-04-01 was $388,391, a difference of $68,498 (21.4%) versus the prior year and $2,636 versus the prior month.

For the 2022-04-01 period, Sioux City had 123 MLS listings, a difference of 3 listings (3%) versus the prior month and -58 listings (-32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sioux City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 95 days 1,891 sqft
2018-02-01 94 days 1,939 sqft
2018-03-01 74 days 1,890 sqft
2018-04-01 50 days 1,861 sqft
2018-05-01 53 days 1,872 sqft
2018-06-01 57 days 1,952 sqft
2018-07-01 61 days 1,965 sqft
2018-08-01 58 days 2,003 sqft
2018-09-01 51 days 1,984 sqft
2018-10-01 58 days 1,986 sqft
2018-11-01 59 days 1,954 sqft
2018-12-01 72 days 1,916 sqft
2019-01-01 88 days 1,902 sqft
2019-02-01 95 days 1,859 sqft
2019-03-01 90 days 1,871 sqft
2019-04-01 64 days 1,913 sqft
2019-05-01 48 days 1,982 sqft
2019-06-01 56 days 2,035 sqft
2019-07-01 52 days 1,963 sqft
2019-08-01 55 days 1,985 sqft
2019-09-01 51 days 1,988 sqft
2019-10-01 49 days 1,929 sqft
2019-11-01 59 days 1,928 sqft
2019-12-01 72 days 1,944 sqft
2020-01-01 84 days 1,946 sqft
2020-02-01 80 days 1,968 sqft
2020-03-01 63 days 2,009 sqft
2020-04-01 67 days 1,957 sqft
2020-05-01 64 days 2,016 sqft
2020-06-01 54 days 1,977 sqft
2020-07-01 57 days 1,941 sqft
2020-08-01 65 days 1,902 sqft
2020-09-01 58 days 1,915 sqft
2020-10-01 55 days 1,926 sqft
2020-11-01 58 days 1,893 sqft
2020-12-01 71 days 1,830 sqft
2021-01-01 85 days 1,818 sqft
2021-02-01 94 days 1,886 sqft
2021-03-01 64 days 1,879 sqft
2021-04-01 50 days 1,943 sqft
2021-05-01 38 days 1,914 sqft
2021-06-01 37 days 1,908 sqft
2021-07-01 32 days 1,897 sqft
2021-08-01 38 days 1,817 sqft
2021-09-01 41 days 1,748 sqft
2021-10-01 37 days 1,719 sqft
2021-11-01 45 days 1,640 sqft
2021-12-01 55 days 1,641 sqft
2022-01-01 67 days 1,600 sqft
2022-02-01 37 days 1,721 sqft
2022-03-01 46 days 1,807 sqft
2022-04-01 38 days 1,764 sqft
Sioux City's median listing age (time on market) for 2022-04-01 was 38 days. This is -24% shorter than the same period one year ago.

Sioux City's median square footage for active listings during the 2022-04-01 period was 1,764 sqft. One year prior, the average listing was 1,943 sqft.