Sioux Falls USDA Loan Rates, Closing Costs & Stats
SIOUX FALLS, 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 Falls's 11 lenders originated 39 USDA loans during 2023. The total origination value was $8,885,000, with an average USDA loan value of $227,821.
Sioux Falls USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Sioux Falls
averaged
6.09%
for the week of 2025-02-14, compared to the national average (all USDA variants) of
6.526% for the same period.
Sioux Falls's average USDA mortgage closing costs are $5,267.
The average rate for the prior week (2025-02-07) was
6.05% and
one month ago for the week of 2025-01-10, the
average rate was 6.29%.
The average rate one year ago was 6.38%.
For refis of the same type during the week of 2025-02-14, the average rate
was 6.61%.
Sioux Falls 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 Sioux Falls level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Plains Commerce Bank | 23 | 5.86% | $5,488 |
| American Bank & Trust | 2 | 5.75% | $4,305 |
| First Bank & Trust | 2 | 6.25% | $4,643 |
| First Dakota National Bank | 2 | 6.19% | $3,942 |
| SIOUX FALLS | 1 | 5.99% | $4,532 |
| UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.25% | $4,029 |
| First National Bank of Omaha | 1 | 5.75% | $3,450 |
| Central Bank | 1 | 6.25% | $5,325 |
| Reliabank Dakota | 1 | 6.00% | $8,610 |
| CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.00% | $6,567 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 1 | 6.25% | $4,951 |
The top Sioux Falls USDA lender as defined by loan originations is Plains Commerce Bank, with
23 USDA loans originated. Their average total fees are
$5,488, which is $1,183
higher than the next largest lender,
American Bank & Trust.
The lowest fee Sioux Falls USDA lenders (with over 10 loans originated) are
Plains Commerce Bank ($5,488), .
The lowest rate Sioux Falls USDA lenders (with over 10 loans originated) are
Plains Commerce Bank (5.86%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sioux Falls (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 | $229,900 (6.5%) | $284,013 (3.6%) | 0.87 | 972 |
| 2018-02-01 | $234,900 (9.0%) | $284,745 (3.5%) | 0.86 | 1,021 |
| 2018-03-01 | $239,800 (9.5%) | $291,133 (2.9%) | 0.84 | 1,069 |
| 2018-04-01 | $234,950 (6.8%) | $290,479 (3.2%) | 0.81 | 1,135 |
| 2018-05-01 | $239,900 (7.0%) | $295,797 (4.2%) | 0.80 | 1,217 |
| 2018-06-01 | $235,664 (7.2%) | $294,431 (3.5%) | 0.80 | 1,241 |
| 2018-07-01 | $229,900 (2.4%) | $282,181 (-2.3%) | 0.78 | 1,293 |
| 2018-08-01 | $229,900 (1.9%) | $281,790 (-2.4%) | 0.77 | 1,303 |
| 2018-09-01 | $229,000 (1.8%) | $282,344 (-2.1%) | 0.77 | 1,317 |
| 2018-10-01 | $228,375 (-0.7%) | $281,164 (-2.5%) | 0.78 | 1,329 |
| 2018-11-01 | $229,875 (2.2%) | $282,481 (-0.6%) | 0.78 | 1,237 |
| 2018-12-01 | $229,900 (0.4%) | $283,458 (-0.1%) | 0.79 | 1,114 |
| 2019-01-01 | $233,650 (1.6%) | $285,835 (0.6%) | 0.81 | 1,035 |
| 2019-02-01 | $229,900 (-2.1%) | $286,096 (0.5%) | 0.79 | 1,031 |
| 2019-03-01 | $234,186 (-2.3%) | $291,424 (0.1%) | 0.78 | 1,092 |
| 2019-04-01 | $239,900 (2.1%) | $300,332 (3.4%) | 0.78 | 1,192 |
| 2019-05-01 | $239,900 (0.0%) | $303,605 (2.6%) | 0.77 | 1,319 |
| 2019-06-01 | $239,900 (1.8%) | $302,318 (2.7%) | 0.76 | 1,380 |
| 2019-07-01 | $239,900 (4.4%) | $300,997 (6.7%) | 0.77 | 1,414 |
| 2019-08-01 | $242,382 (5.4%) | $429,993 (52.6%) | 0.78 | 1,429 |
| 2019-09-01 | $246,105 (7.5%) | $622,578 (120.5%) | 0.80 | 1,424 |
| 2019-10-01 | $248,186 (8.7%) | $761,847 (171.0%) | 0.81 | 1,436 |
| 2019-11-01 | $239,900 (4.4%) | $295,511 (4.6%) | 0.80 | 1,420 |
| 2019-12-01 | $239,675 (4.3%) | $292,480 (3.2%) | 0.80 | 1,210 |
| 2020-01-01 | $239,900 (2.7%) | $290,244 (1.5%) | 0.81 | 1,140 |
| 2020-02-01 | $239,900 (4.4%) | $289,097 (1.1%) | 0.79 | 1,222 |
| 2020-03-01 | $241,950 (3.3%) | $295,664 (1.5%) | 0.77 | 1,366 |
| 2020-04-01 | $245,900 (2.5%) | $300,215 (0.0%) | 0.78 | 1,498 |
| 2020-05-01 | $247,900 (3.3%) | $305,113 (0.5%) | 0.76 | 1,537 |
| 2020-06-01 | $249,900 (4.2%) | $314,863 (4.2%) | 0.74 | 1,571 |
| 2020-07-01 | $249,900 (4.2%) | $313,173 (4.1%) | 0.74 | 1,513 |
| 2020-08-01 | $249,900 (3.1%) | $307,113 (-28.6%) | 0.72 | 1,481 |
| 2020-09-01 | $249,175 (1.3%) | $307,659 (-50.6%) | 0.72 | 1,419 |
| 2020-10-01 | $245,950 (-0.9%) | $305,383 (-59.9%) | 0.71 | 1,301 |
| 2020-11-01 | $246,091 (2.6%) | $306,160 (3.6%) | 0.72 | 1,078 |
| 2020-12-01 | $246,900 (3.0%) | $308,893 (5.6%) | 0.74 | 915 |
| 2021-01-01 | $247,900 (3.3%) | $307,010 (5.8%) | 0.75 | 835 |
| 2021-02-01 | $249,900 (4.2%) | $307,824 (6.5%) | 0.73 | 850 |
| 2021-03-01 | $259,950 (7.4%) | $311,504 (5.4%) | 0.75 | 961 |
| 2021-04-01 | $264,900 (7.7%) | $318,552 (6.1%) | 0.72 | 1,101 |
| 2021-05-01 | $270,000 (8.9%) | $327,824 (7.4%) | 0.73 | 1,186 |
| 2021-06-01 | $274,900 (10.0%) | $328,773 (4.4%) | 0.72 | 1,226 |
| 2021-07-01 | $274,500 (9.8%) | $326,970 (4.4%) | 0.73 | 1,256 |
| 2021-08-01 | $271,225 (8.5%) | $328,123 (6.8%) | 0.73 | 1,253 |
| 2021-09-01 | $272,450 (9.3%) | $338,957 (10.2%) | 0.73 | 1,234 |
| 2021-10-01 | $274,900 (11.8%) | $340,432 (11.5%) | 0.73 | 1,132 |
| 2021-11-01 | $274,950 (11.7%) | $341,186 (11.4%) | 0.73 | 1,026 |
| 2021-12-01 | $282,450 (14.4%) | $355,167 (15.0%) | 0.78 | 812 |
| 2022-01-01 | $299,500 (20.8%) | $373,217 (21.6%) | 0.81 | 669 |
| 2022-02-01 | $304,924 (22.0%) | $378,550 (23.0%) | 0.79 | 715 |
| 2022-03-01 | $321,035 (23.5%) | $389,735 (25.1%) | 0.81 | 794 |
| 2022-04-01 | $325,000 (22.7%) | $389,134 (22.2%) | 0.78 | 933 |
| 2022-05-01 | $330,000 (22.2%) | $397,823 (21.4%) | 0.77 | 993 |
| 2022-06-01 | $347,000 (26.2%) | $404,858 (23.1%) | 0.78 | 997 |
| 2022-07-01 | $349,000 (27.1%) | $409,255 (25.2%) | 0.79 | 1,039 |
| 2022-08-01 | $346,000 (27.6%) | $409,364 (24.8%) | 0.81 | 1,140 |
| 2022-09-01 | $349,900 (28.4%) | $412,080 (21.6%) | 0.82 | 1,157 |
| 2022-10-01 | $349,900 (27.3%) | $407,036 (19.6%) | 0.82 | 1,084 |
| 2022-11-01 | $342,900 (24.7%) | $402,818 (18.1%) | 0.83 | 1,031 |
| 2022-12-01 | $339,900 (20.3%) | $399,285 (12.4%) | 0.85 | 980 |
| 2023-01-01 | $349,900 (16.8%) | $402,632 (7.9%) | 0.87 | 927 |
| 2023-02-01 | $355,450 (16.6%) | $412,867 (9.1%) | 0.87 | 975 |
| 2023-03-01 | $360,000 (12.1%) | $419,831 (7.7%) | 0.86 | 1,022 |
| 2023-04-01 | $365,000 (12.3%) | $424,270 (9.0%) | 0.86 | 1,182 |
| 2023-05-01 | $368,950 (11.8%) | $428,643 (7.8%) | 0.84 | 1,360 |
| 2023-06-01 | $366,500 (5.6%) | $430,508 (6.3%) | 0.82 | 1,395 |
| 2023-07-01 | $364,950 (4.6%) | $439,854 (7.5%) | 0.83 | 1,374 |
| 2023-08-01 | $362,200 (4.7%) | $439,505 (7.4%) | 0.83 | 1,494 |
| 2023-09-01 | $364,900 (4.3%) | $446,835 (8.4%) | 0.85 | 1,455 |
| 2023-10-01 | $369,834 (5.7%) | $453,145 (11.3%) | 0.87 | 1,004 |
| 2023-11-01 | $366,975 (7.0%) | $448,130 (11.3%) | 0.88 | 1,005 |
| 2023-12-01 | $368,700 (8.5%) | $451,789 (13.2%) | 0.90 | 931 |
| 2024-01-01 | $370,705 (6.0%) | $454,540 (12.9%) | 0.91 | 864 |
| 2024-02-01 | $374,800 (5.4%) | $457,178 (10.7%) | 0.90 | 778 |
| 2024-03-01 | $385,800 (7.2%) | $475,879 (13.4%) | 0.92 | 770 |
| 2024-04-01 | $375,950 (3.0%) | $467,957 (10.3%) | 0.88 | 814 |
| 2024-05-01 | $386,400 (4.7%) | $469,466 (9.5%) | 0.88 | 868 |
| 2024-06-01 | $399,900 (9.1%) | $476,368 (10.7%) | 0.90 | 911 |
| 2024-07-01 | $399,924 (9.6%) | $473,207 (7.6%) | 0.92 | 920 |
| 2024-08-01 | $390,000 (7.7%) | $462,507 (5.2%) | 0.92 | 1,039 |
| 2024-09-01 | $376,100 (3.1%) | $454,300 (1.7%) | 0.89 | 1,094 |
| 2024-10-01 | $372,425 (0.7%) | $452,868 (-0.1%) | 0.88 | 1,152 |
| 2024-11-01 | $369,900 (0.8%) | $450,083 (0.4%) | 0.89 | 1,158 |
| 2024-12-01 | $368,900 (0.1%) | $441,883 (-2.2%) | 0.92 | 1,080 |
| 2025-01-01 | $365,457 (-1.4%) | $438,719 (-3.5%) | 0.00 | 959 |
Sioux Falls's median listing price comes in at 0% of the national average.
Sioux Falls's average listing price for 2025-01-01 was $438,719, a difference of $-15,821 (-3.5%) versus the prior year and $-3,164 versus the prior month.
For the 2025-01-01 period, Sioux Falls had 959 MLS listings, a difference of -121 listings (-11%) versus the prior month and 95 listings (11%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sioux Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 66 days | 1,810 sqft |
| 2018-02-01 | 51 days | 1,808 sqft |
| 2018-03-01 | 45 days | 1,809 sqft |
| 2018-04-01 | 39 days | 1,842 sqft |
| 2018-05-01 | 38 days | 1,860 sqft |
| 2018-06-01 | 38 days | 1,883 sqft |
| 2018-07-01 | 37 days | 1,806 sqft |
| 2018-08-01 | 38 days | 1,791 sqft |
| 2018-09-01 | 39 days | 1,761 sqft |
| 2018-10-01 | 41 days | 1,732 sqft |
| 2018-11-01 | 51 days | 1,739 sqft |
| 2018-12-01 | 61 days | 1,729 sqft |
| 2019-01-01 | 66 days | 1,736 sqft |
| 2019-02-01 | 55 days | 1,738 sqft |
| 2019-03-01 | 46 days | 1,775 sqft |
| 2019-04-01 | 34 days | 1,830 sqft |
| 2019-05-01 | 30 days | 1,867 sqft |
| 2019-06-01 | 32 days | 1,852 sqft |
| 2019-07-01 | 36 days | 1,830 sqft |
| 2019-08-01 | 40 days | 1,856 sqft |
| 2019-09-01 | 42 days | 1,894 sqft |
| 2019-10-01 | 44 days | 1,908 sqft |
| 2019-11-01 | 52 days | 1,851 sqft |
| 2019-12-01 | 63 days | 1,776 sqft |
| 2020-01-01 | 67 days | 1,751 sqft |
| 2020-02-01 | 57 days | 1,748 sqft |
| 2020-03-01 | 46 days | 1,766 sqft |
| 2020-04-01 | 45 days | 1,781 sqft |
| 2020-05-01 | 45 days | 1,782 sqft |
| 2020-06-01 | 44 days | 1,835 sqft |
| 2020-07-01 | 46 days | 1,826 sqft |
| 2020-08-01 | 44 days | 1,816 sqft |
| 2020-09-01 | 44 days | 1,806 sqft |
| 2020-10-01 | 46 days | 1,775 sqft |
| 2020-11-01 | 53 days | 1,748 sqft |
| 2020-12-01 | 58 days | 1,716 sqft |
| 2021-01-01 | 55 days | 1,670 sqft |
| 2021-02-01 | 44 days | 1,664 sqft |
| 2021-03-01 | 39 days | 1,682 sqft |
| 2021-04-01 | 37 days | 1,709 sqft |
| 2021-05-01 | 39 days | 1,782 sqft |
| 2021-06-01 | 38 days | 1,796 sqft |
| 2021-07-01 | 39 days | 1,750 sqft |
| 2021-08-01 | 37 days | 1,718 sqft |
| 2021-09-01 | 39 days | 1,679 sqft |
| 2021-10-01 | 42 days | 1,665 sqft |
| 2021-11-01 | 43 days | 1,654 sqft |
| 2021-12-01 | 48 days | 1,656 sqft |
| 2022-01-01 | 57 days | 1,657 sqft |
| 2022-02-01 | 37 days | 1,663 sqft |
| 2022-03-01 | 36 days | 1,718 sqft |
| 2022-04-01 | 36 days | 1,766 sqft |
| 2022-05-01 | 37 days | 1,797 sqft |
| 2022-06-01 | 36 days | 1,848 sqft |
| 2022-07-01 | 33 days | 1,865 sqft |
| 2022-08-01 | 35 days | 1,823 sqft |
| 2022-09-01 | 39 days | 1,784 sqft |
| 2022-10-01 | 41 days | 1,763 sqft |
| 2022-11-01 | 44 days | 1,739 sqft |
| 2022-12-01 | 51 days | 1,692 sqft |
| 2023-01-01 | 56 days | 1,671 sqft |
| 2023-02-01 | 55 days | 1,670 sqft |
| 2023-03-01 | 54 days | 1,673 sqft |
| 2023-04-01 | 43 days | 1,700 sqft |
| 2023-05-01 | 38 days | 1,768 sqft |
| 2023-06-01 | 43 days | 1,786 sqft |
| 2023-07-01 | 44 days | 1,807 sqft |
| 2023-08-01 | 44 days | 1,801 sqft |
| 2023-09-01 | 53 days | 1,760 sqft |
| 2023-10-01 | 53 days | 1,739 sqft |
| 2023-11-01 | 46 days | 1,712 sqft |
| 2023-12-01 | 58 days | 1,715 sqft |
| 2024-01-01 | 69 days | 1,699 sqft |
| 2024-02-01 | 46 days | 1,666 sqft |
| 2024-03-01 | 45 days | 1,700 sqft |
| 2024-04-01 | 39 days | 1,705 sqft |
| 2024-05-01 | 35 days | 1,730 sqft |
| 2024-06-01 | 37 days | 1,819 sqft |
| 2024-07-01 | 44 days | 1,848 sqft |
| 2024-08-01 | 39 days | 1,857 sqft |
| 2024-09-01 | 41 days | 1,783 sqft |
| 2024-10-01 | 44 days | 1,737 sqft |
| 2024-11-01 | 46 days | 1,712 sqft |
| 2024-12-01 | 60 days | 1,698 sqft |
| 2025-01-01 | 0 days | 1,670 sqft |
Sioux Falls's median square footage for active listings during the 2025-01-01 period was 1,670 sqft. One year prior, the average listing was 1,699 sqft.