St. Louis USDA Loan Rates, Closing Costs & Stats
ST. LOUIS, MO-IL
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.
St. Louis's 80 lenders originated 513 USDA loans during 2022. The total origination value was $86,445,000, with an average USDA loan value of $168,509.
St. Louis USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in St. Louis
averaged
6.59%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
St. Louis's average USDA mortgage closing costs are $4,504.
The average rate for the prior week (2023-05-19) was
6.03% and
one month ago for the week of 2023-04-21, the
average rate was 6.34%.
The average rate one year ago was 5.06%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.57%.
St. Louis 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 St. Louis level.
The top St. Louis USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
81 USDA loans originated. Their average total fees are
$6,328, which is $1,323
higher than the next largest lender,
FLAT BRANCH MORTGAGE, INC..
The lowest fee St. Louis USDA lenders (with over 10 loans originated) are
United Community Bank ($2,908), First Mid Bank & Trust ($3,563), FLAT BRANCH MORTGAGE, INC. ($5,005), GUARANTEED RATE, INC. ($5,034) and ENDEAVOR CAPITAL, LLC. ($5,208).
The lowest rate St. Louis USDA lenders (with over 10 loans originated) are
First Mid Bank & Trust (4.11%), GERSHMAN INVESTMENT CORP. (4.66%), The Central Trust Bank (4.68%), FLAT BRANCH MORTGAGE, INC. (4.91%) and DELMAR FINANCIAL COMPANY (4.92%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - St. Louis (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 | $189,400 (12.0%) | $269,594 (6.1%) | 0.70 | 8,422 |
2018-02-01 | $193,450 (12.2%) | $277,213 (5.8%) | 0.70 | 8,301 |
2018-03-01 | $205,000 (11.0%) | $291,265 (6.0%) | 0.72 | 8,652 |
2018-04-01 | $214,875 (11.8%) | $300,549 (6.1%) | 0.73 | 8,742 |
2018-05-01 | $219,900 (9.3%) | $306,148 (4.6%) | 0.73 | 9,152 |
2018-06-01 | $219,900 (8.2%) | $308,574 (5.3%) | 0.73 | 9,728 |
2018-07-01 | $216,750 (8.4%) | $303,344 (5.3%) | 0.72 | 10,254 |
2018-08-01 | $216,000 (9.8%) | $299,330 (6.6%) | 0.72 | 10,480 |
2018-09-01 | $215,000 (9.8%) | $297,128 (5.4%) | 0.72 | 10,485 |
2018-10-01 | $212,725 (6.7%) | $294,146 (3.5%) | 0.72 | 10,575 |
2018-11-01 | $209,900 (8.1%) | $289,262 (3.7%) | 0.71 | 10,105 |
2018-12-01 | $200,000 (5.5%) | $280,394 (3.4%) | 0.69 | 9,044 |
2019-01-01 | $199,550 (5.4%) | $275,229 (2.1%) | 0.69 | 7,920 |
2019-02-01 | $210,000 (8.6%) | $291,481 (5.2%) | 0.71 | 7,560 |
2019-03-01 | $219,900 (7.3%) | $297,263 (2.1%) | 0.73 | 7,652 |
2019-04-01 | $225,000 (4.7%) | $304,967 (1.5%) | 0.71 | 7,973 |
2019-05-01 | $231,450 (5.3%) | $313,299 (2.3%) | 0.72 | 8,254 |
2019-06-01 | $234,900 (6.8%) | $316,951 (2.7%) | 0.73 | 8,574 |
2019-07-01 | $229,450 (5.9%) | $313,324 (3.3%) | 0.72 | 8,893 |
2019-08-01 | $229,900 (6.4%) | $315,478 (5.4%) | 0.72 | 8,858 |
2019-09-01 | $229,900 (6.9%) | $317,200 (6.8%) | 0.73 | 8,234 |
2019-10-01 | $220,000 (3.4%) | $302,330 (2.8%) | 0.71 | 9,194 |
2019-11-01 | $215,000 (2.4%) | $299,910 (3.7%) | 0.70 | 8,763 |
2019-12-01 | $210,200 (5.1%) | $289,987 (3.4%) | 0.70 | 7,794 |
2020-01-01 | $209,900 (5.2%) | $287,622 (4.5%) | 0.70 | 6,909 |
2020-02-01 | $218,900 (4.2%) | $298,000 (2.2%) | 0.72 | 6,367 |
2020-03-01 | $229,575 (4.4%) | $305,672 (2.8%) | 0.72 | 6,432 |
2020-04-01 | $231,500 (2.9%) | $305,767 (0.3%) | 0.73 | 6,463 |
2020-05-01 | $247,900 (7.1%) | $320,854 (2.4%) | 0.75 | 6,320 |
2020-06-01 | $249,900 (6.4%) | $333,864 (5.3%) | 0.74 | 6,016 |
2020-07-01 | $249,950 (8.9%) | $336,803 (7.5%) | 0.72 | 5,763 |
2020-08-01 | $249,900 (8.7%) | $338,157 (7.2%) | 0.72 | 5,621 |
2020-09-01 | $249,900 (8.7%) | $339,370 (7.0%) | 0.72 | 5,557 |
2020-10-01 | $243,400 (10.6%) | $334,322 (10.6%) | 0.70 | 5,659 |
2020-11-01 | $235,800 (9.7%) | $328,448 (9.5%) | 0.69 | 5,296 |
2020-12-01 | $230,150 (9.5%) | $323,441 (11.5%) | 0.68 | 4,753 |
2021-01-01 | $239,900 (14.3%) | $337,023 (17.2%) | 0.72 | 4,017 |
2021-02-01 | $249,900 (14.2%) | $342,926 (15.1%) | 0.73 | 3,540 |
2021-03-01 | $252,450 (10.0%) | $345,425 (13.0%) | 0.72 | 3,572 |
2021-04-01 | $258,600 (11.7%) | $355,697 (16.3%) | 0.70 | 3,564 |
2021-05-01 | $254,900 (2.8%) | $357,526 (11.4%) | 0.68 | 3,474 |
2021-06-01 | $255,800 (2.4%) | $352,428 (5.6%) | 0.67 | 3,848 |
2021-07-01 | $250,000 (0.0%) | $346,893 (3.0%) | 0.66 | 4,596 |
2021-08-01 | $249,900 (0.0%) | $341,848 (1.1%) | 0.67 | 4,766 |
2021-09-01 | $249,900 (0.0%) | $338,695 (-0.2%) | 0.67 | 4,700 |
2021-10-01 | $240,000 (-1.4%) | $337,379 (0.9%) | 0.64 | 4,539 |
2021-11-01 | $236,950 (0.5%) | $336,776 (2.5%) | 0.63 | 4,144 |
2021-12-01 | $239,950 (4.3%) | $335,714 (3.8%) | 0.65 | 3,462 |
2022-01-01 | $243,900 (1.7%) | $336,432 (-0.2%) | 0.66 | 3,009 |
2022-02-01 | $262,425 (5.0%) | $343,890 (0.3%) | 0.68 | 2,831 |
2022-03-01 | $270,100 (7.0%) | $347,027 (0.5%) | 0.68 | 2,914 |
2022-04-01 | $269,900 (4.4%) | $337,084 (-5.2%) | 0.64 | 3,112 |
2022-05-01 | $275,400 (8.0%) | $347,316 (-2.9%) | 0.63 | 3,650 |
2022-06-01 | $279,700 (9.3%) | $352,883 (0.1%) | 0.62 | 4,100 |
2022-07-01 | $275,000 (10.0%) | $347,618 (0.2%) | 0.62 | 4,648 |
2022-08-01 | $276,339 (10.6%) | $346,192 (1.3%) | 0.64 | 4,692 |
2022-09-01 | $274,972 (10.0%) | $345,796 (2.1%) | 0.64 | 4,696 |
2022-10-01 | $275,900 (15.0%) | $340,580 (1.0%) | 0.65 | 4,809 |
2022-11-01 | $274,000 (15.6%) | $337,982 (0.4%) | 0.66 | 4,783 |
2022-12-01 | $268,725 (12.0%) | $329,575 (-1.8%) | 0.66 | 4,223 |
2023-01-01 | $269,900 (10.7%) | $333,821 (-0.8%) | 0.67 | 3,782 |
2023-02-01 | $271,559 (3.5%) | $337,055 (-2.0%) | 0.66 | 3,499 |
2023-03-01 | $278,950 (3.3%) | $343,394 (-1.1%) | 0.66 | 3,477 |
2023-04-01 | $284,900 (5.6%) | $355,297 (5.4%) | 0.66 | 3,581 |
St. Louis's median listing price comes in at 66% of the national average.
St. Louis's average listing price for 2023-04-01 was $355,297, a difference of $18,213 (5.4%) versus the prior year and $11,903 versus the prior month.
For the 2023-04-01 period, St. Louis had 3,581 MLS listings, a difference of 104 listings (3%) versus the prior month and 469 listings (15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - St. Louis (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 87 days | 1,650 sqft |
2018-02-01 | 82 days | 1,670 sqft |
2018-03-01 | 59 days | 1,728 sqft |
2018-04-01 | 57 days | 1,754 sqft |
2018-05-01 | 57 days | 1,764 sqft |
2018-06-01 | 54 days | 1,758 sqft |
2018-07-01 | 57 days | 1,746 sqft |
2018-08-01 | 58 days | 1,732 sqft |
2018-09-01 | 63 days | 1,724 sqft |
2018-10-01 | 66 days | 1,710 sqft |
2018-11-01 | 69 days | 1,690 sqft |
2018-12-01 | 80 days | 1,673 sqft |
2019-01-01 | 92 days | 1,652 sqft |
2019-02-01 | 89 days | 1,705 sqft |
2019-03-01 | 66 days | 1,735 sqft |
2019-04-01 | 54 days | 1,743 sqft |
2019-05-01 | 54 days | 1,756 sqft |
2019-06-01 | 57 days | 1,764 sqft |
2019-07-01 | 59 days | 1,753 sqft |
2019-08-01 | 67 days | 1,779 sqft |
2019-09-01 | 74 days | 1,787 sqft |
2019-10-01 | 66 days | 1,728 sqft |
2019-11-01 | 79 days | 1,700 sqft |
2019-12-01 | 92 days | 1,678 sqft |
2020-01-01 | 99 days | 1,653 sqft |
2020-02-01 | 99 days | 1,682 sqft |
2020-03-01 | 63 days | 1,738 sqft |
2020-04-01 | 65 days | 1,761 sqft |
2020-05-01 | 67 days | 1,810 sqft |
2020-06-01 | 70 days | 1,842 sqft |
2020-07-01 | 63 days | 1,845 sqft |
2020-08-01 | 60 days | 1,812 sqft |
2020-09-01 | 73 days | 1,810 sqft |
2020-10-01 | 72 days | 1,776 sqft |
2020-11-01 | 78 days | 1,747 sqft |
2020-12-01 | 82 days | 1,713 sqft |
2021-01-01 | 75 days | 1,728 sqft |
2021-02-01 | 71 days | 1,715 sqft |
2021-03-01 | 57 days | 1,728 sqft |
2021-04-01 | 49 days | 1,731 sqft |
2021-05-01 | 43 days | 1,700 sqft |
2021-06-01 | 40 days | 1,705 sqft |
2021-07-01 | 38 days | 1,708 sqft |
2021-08-01 | 39 days | 1,689 sqft |
2021-09-01 | 43 days | 1,671 sqft |
2021-10-01 | 45 days | 1,638 sqft |
2021-11-01 | 47 days | 1,609 sqft |
2021-12-01 | 55 days | 1,604 sqft |
2022-01-01 | 59 days | 1,600 sqft |
2022-02-01 | 51 days | 1,619 sqft |
2022-03-01 | 40 days | 1,656 sqft |
2022-04-01 | 36 days | 1,651 sqft |
2022-05-01 | 33 days | 1,667 sqft |
2022-06-01 | 35 days | 1,695 sqft |
2022-07-01 | 37 days | 1,680 sqft |
2022-08-01 | 41 days | 1,680 sqft |
2022-09-01 | 45 days | 1,680 sqft |
2022-10-01 | 44 days | 1,680 sqft |
2022-11-01 | 44 days | 1,677 sqft |
2022-12-01 | 55 days | 1,659 sqft |
2023-01-01 | 66 days | 1,653 sqft |
2023-02-01 | 67 days | 1,652 sqft |
2023-03-01 | 51 days | 1,659 sqft |
2023-04-01 | 43 days | 1,700 sqft |
St. Louis's median square footage for active listings during the 2023-04-01 period was 1,700 sqft. One year prior, the average listing was 1,651 sqft.