State College USDA Loan Rates, Closing Costs & Stats
STATE COLLEGE, PA
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.
State College's 4 lenders originated 11 USDA loans during 2023. The total origination value was $2,095,000, with an average USDA loan value of $190,455.
State College USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in State College
averaged
6.9%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
State College's average USDA mortgage closing costs are $6,333.
The average rate for the prior week (2024-04-12) was
6.55% and
one month ago for the week of 2024-03-15, the
average rate was 6.54%.
The average rate one year ago was 6.38%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.66%.
State College 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 State College level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Jersey Shore State Bank | 3 | 6.96% | $6,598 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 5.81% | $5,632 |
| Citizens Bank | 1 | 5.25% | $7,911 |
| Kish Bank | 1 | 7.25% | $6,991 |
The top State College USDA lender as defined by loan originations is Jersey Shore State Bank, with
3 USDA loans originated. Their average total fees are
$6,598, which is $966
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee State College USDA lenders (with over 10 loans originated) are
.
The lowest rate State College USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - State College (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 | $245,950 (11.9%) | $326,723 (10.2%) | 0.91 | 212 |
| 2018-02-01 | $264,200 (8.7%) | $348,603 (12.3%) | 0.96 | 227 |
| 2018-03-01 | $297,000 (5.6%) | $363,380 (9.4%) | 1.04 | 254 |
| 2018-04-01 | $293,725 (4.9%) | $370,731 (12.3%) | 1.00 | 263 |
| 2018-05-01 | $286,175 (5.8%) | $362,863 (13.2%) | 0.96 | 294 |
| 2018-06-01 | $295,824 (10.3%) | $373,913 (16.2%) | 0.99 | 313 |
| 2018-07-01 | $284,950 (10.6%) | $365,469 (20.0%) | 0.95 | 305 |
| 2018-08-01 | $276,200 (9.5%) | $363,625 (19.1%) | 0.93 | 288 |
| 2018-09-01 | $269,900 (5.5%) | $348,033 (9.0%) | 0.91 | 302 |
| 2018-10-01 | $264,423 (3.8%) | $340,813 (6.7%) | 0.90 | 297 |
| 2018-11-01 | $249,950 (-0.5%) | $335,066 (2.3%) | 0.85 | 291 |
| 2018-12-01 | $239,307 (-0.1%) | $316,597 (-3.0%) | 0.83 | 251 |
| 2019-01-01 | $239,900 (-2.5%) | $308,634 (-5.5%) | 0.83 | 208 |
| 2019-02-01 | $272,050 (3.0%) | $321,722 (-7.7%) | 0.92 | 228 |
| 2019-03-01 | $305,900 (3.0%) | $355,037 (-2.3%) | 1.00 | 269 |
| 2019-04-01 | $328,625 (11.9%) | $382,936 (3.3%) | 1.04 | 300 |
| 2019-05-01 | $321,900 (12.5%) | $387,824 (6.9%) | 1.01 | 305 |
| 2019-06-01 | $318,000 (7.5%) | $375,898 (0.5%) | 0.99 | 339 |
| 2019-07-01 | $303,900 (6.7%) | $362,563 (-0.8%) | 0.95 | 352 |
| 2019-08-01 | $297,536 (7.7%) | $357,027 (-1.8%) | 0.94 | 347 |
| 2019-09-01 | $281,991 (4.5%) | $346,079 (-0.6%) | 0.90 | 335 |
| 2019-10-01 | $269,675 (2.0%) | $334,424 (-1.9%) | 0.87 | 327 |
| 2019-11-01 | $270,495 (8.2%) | $330,331 (-1.4%) | 0.89 | 293 |
| 2019-12-01 | $252,450 (5.5%) | $315,755 (-0.3%) | 0.84 | 247 |
| 2020-01-01 | $259,925 (8.4%) | $323,023 (4.7%) | 0.87 | 209 |
| 2020-02-01 | $281,450 (3.5%) | $352,741 (9.6%) | 0.92 | 213 |
| 2020-03-01 | $301,087 (-1.6%) | $370,826 (4.5%) | 0.94 | 255 |
| 2020-04-01 | $313,450 (-4.6%) | $375,417 (-2.0%) | 0.98 | 262 |
| 2020-05-01 | $305,000 (-5.3%) | $372,614 (-3.9%) | 0.93 | 295 |
| 2020-06-01 | $329,900 (3.7%) | $382,590 (1.8%) | 0.97 | 285 |
| 2020-07-01 | $328,850 (8.2%) | $380,299 (4.9%) | 0.95 | 276 |
| 2020-08-01 | $319,900 (7.5%) | $374,887 (5.0%) | 0.92 | 267 |
| 2020-09-01 | $307,475 (9.0%) | $371,215 (7.3%) | 0.88 | 253 |
| 2020-10-01 | $313,750 (16.3%) | $377,325 (12.8%) | 0.90 | 224 |
| 2020-11-01 | $325,000 (20.2%) | $387,602 (17.3%) | 0.95 | 182 |
| 2020-12-01 | $314,950 (24.8%) | $370,539 (17.4%) | 0.94 | 161 |
| 2021-01-01 | $299,500 (15.2%) | $363,498 (12.5%) | 0.89 | 146 |
| 2021-02-01 | $317,500 (12.8%) | $368,812 (4.6%) | 0.92 | 121 |
| 2021-03-01 | $322,500 (7.1%) | $388,086 (4.7%) | 0.92 | 110 |
| 2021-04-01 | $287,400 (-8.3%) | $381,183 (1.5%) | 0.78 | 118 |
| 2021-05-01 | $302,000 (-1.0%) | $380,810 (2.2%) | 0.80 | 137 |
| 2021-06-01 | $312,450 (-5.3%) | $387,465 (1.3%) | 0.82 | 147 |
| 2021-07-01 | $319,900 (-2.7%) | $389,878 (2.5%) | 0.84 | 160 |
| 2021-08-01 | $299,675 (-6.3%) | $378,124 (0.9%) | 0.80 | 167 |
| 2021-09-01 | $294,218 (-4.3%) | $386,670 (4.2%) | 0.78 | 160 |
| 2021-10-01 | $279,900 (-10.8%) | $374,701 (-0.7%) | 0.75 | 161 |
| 2021-11-01 | $289,000 (-11.1%) | $400,407 (3.3%) | 0.77 | 135 |
| 2021-12-01 | $299,950 (-4.8%) | $398,933 (7.7%) | 0.81 | 104 |
| 2022-01-01 | $291,990 (-2.5%) | $428,551 (17.9%) | 0.79 | 87 |
| 2022-02-01 | $341,250 (7.5%) | $486,142 (31.8%) | 0.89 | 77 |
| 2022-03-01 | $338,250 (4.9%) | $462,960 (19.3%) | 0.85 | 93 |
| 2022-04-01 | $354,900 (23.5%) | $455,313 (19.5%) | 0.85 | 106 |
| 2022-05-01 | $364,725 (20.8%) | $431,328 (13.3%) | 0.83 | 121 |
| 2022-06-01 | $371,875 (19.0%) | $417,298 (7.7%) | 0.83 | 134 |
| 2022-07-01 | $370,000 (15.7%) | $427,806 (9.7%) | 0.83 | 156 |
| 2022-08-01 | $374,975 (25.1%) | $435,777 (15.3%) | 0.87 | 156 |
| 2022-09-01 | $374,500 (27.3%) | $433,753 (12.2%) | 0.88 | 155 |
| 2022-10-01 | $375,000 (34.0%) | $435,118 (16.1%) | 0.88 | 151 |
| 2022-11-01 | $351,945 (21.8%) | $421,422 (5.3%) | 0.85 | 143 |
| 2022-12-01 | $339,900 (13.3%) | $417,084 (4.6%) | 0.84 | 113 |
| 2023-01-01 | $318,000 (8.9%) | $405,006 (-5.5%) | 0.79 | 97 |
| 2023-02-01 | $379,950 (11.3%) | $454,929 (-6.4%) | 0.92 | 100 |
| 2023-03-01 | $417,450 (23.4%) | $577,425 (24.7%) | 0.98 | 113 |
| 2023-04-01 | $429,000 (20.9%) | $572,502 (25.7%) | 1.00 | 133 |
| 2023-05-01 | $461,825 (26.6%) | $577,368 (33.9%) | 1.05 | 125 |
| 2023-06-01 | $447,500 (20.3%) | $605,428 (45.1%) | 1.01 | 136 |
| 2023-07-01 | $450,000 (21.6%) | $612,849 (43.3%) | 1.02 | 140 |
| 2023-08-01 | $433,500 (15.6%) | $569,060 (30.6%) | 1.00 | 135 |
| 2023-09-01 | $450,000 (20.2%) | $544,574 (25.6%) | 1.05 | 148 |
| 2023-10-01 | $421,950 (12.5%) | $495,781 (13.9%) | 0.99 | 164 |
| 2023-11-01 | $399,900 (13.6%) | $470,377 (11.6%) | 0.95 | 164 |
| 2023-12-01 | $369,990 (8.9%) | $466,997 (12.0%) | 0.90 | 147 |
| 2024-01-01 | $368,500 (15.9%) | $464,429 (14.7%) | 0.90 | 137 |
| 2024-02-01 | $373,495 (-1.7%) | $470,057 (3.3%) | 0.90 | 132 |
| 2024-03-01 | $399,500 (-4.3%) | $513,740 (-11.0%) | 0.94 | 159 |
State College's median listing price comes in at 94% of the national average.
State College's average listing price for 2024-03-01 was $513,740, a difference of $-63,685 (-11.0%) versus the prior year and $43,683 versus the prior month.
For the 2024-03-01 period, State College had 159 MLS listings, a difference of 27 listings (20%) versus the prior month and 46 listings (41%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - State College (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 80 days | 1,800 sqft |
| 2018-02-01 | 80 days | 1,850 sqft |
| 2018-03-01 | 51 days | 2,060 sqft |
| 2018-04-01 | 46 days | 2,046 sqft |
| 2018-05-01 | 45 days | 2,047 sqft |
| 2018-06-01 | 53 days | 2,147 sqft |
| 2018-07-01 | 65 days | 2,067 sqft |
| 2018-08-01 | 70 days | 2,130 sqft |
| 2018-09-01 | 70 days | 2,090 sqft |
| 2018-10-01 | 78 days | 2,029 sqft |
| 2018-11-01 | 79 days | 2,012 sqft |
| 2018-12-01 | 80 days | 1,909 sqft |
| 2019-01-01 | 78 days | 1,926 sqft |
| 2019-02-01 | 75 days | 2,028 sqft |
| 2019-03-01 | 51 days | 2,118 sqft |
| 2019-04-01 | 38 days | 2,213 sqft |
| 2019-05-01 | 44 days | 2,229 sqft |
| 2019-06-01 | 51 days | 2,149 sqft |
| 2019-07-01 | 54 days | 2,102 sqft |
| 2019-08-01 | 59 days | 2,079 sqft |
| 2019-09-01 | 67 days | 2,021 sqft |
| 2019-10-01 | 72 days | 1,957 sqft |
| 2019-11-01 | 72 days | 1,872 sqft |
| 2019-12-01 | 85 days | 1,770 sqft |
| 2020-01-01 | 80 days | 1,776 sqft |
| 2020-02-01 | 56 days | 1,842 sqft |
| 2020-03-01 | 40 days | 1,928 sqft |
| 2020-04-01 | 60 days | 1,941 sqft |
| 2020-05-01 | 72 days | 1,923 sqft |
| 2020-06-01 | 74 days | 2,006 sqft |
| 2020-07-01 | 61 days | 1,966 sqft |
| 2020-08-01 | 57 days | 1,963 sqft |
| 2020-09-01 | 60 days | 2,046 sqft |
| 2020-10-01 | 68 days | 2,084 sqft |
| 2020-11-01 | 83 days | 2,102 sqft |
| 2020-12-01 | 92 days | 2,041 sqft |
| 2021-01-01 | 64 days | 1,953 sqft |
| 2021-02-01 | 45 days | 1,876 sqft |
| 2021-03-01 | 50 days | 1,849 sqft |
| 2021-04-01 | 38 days | 1,705 sqft |
| 2021-05-01 | 37 days | 1,847 sqft |
| 2021-06-01 | 42 days | 1,878 sqft |
| 2021-07-01 | 42 days | 1,837 sqft |
| 2021-08-01 | 43 days | 1,877 sqft |
| 2021-09-01 | 50 days | 1,788 sqft |
| 2021-10-01 | 51 days | 1,795 sqft |
| 2021-11-01 | 60 days | 1,808 sqft |
| 2021-12-01 | 69 days | 1,849 sqft |
| 2022-01-01 | 75 days | 1,927 sqft |
| 2022-02-01 | 53 days | 2,008 sqft |
| 2022-03-01 | 32 days | 1,954 sqft |
| 2022-04-01 | 31 days | 1,956 sqft |
| 2022-05-01 | 32 days | 1,969 sqft |
| 2022-06-01 | 32 days | 1,959 sqft |
| 2022-07-01 | 33 days | 1,938 sqft |
| 2022-08-01 | 43 days | 1,986 sqft |
| 2022-09-01 | 49 days | 1,969 sqft |
| 2022-10-01 | 51 days | 1,971 sqft |
| 2022-11-01 | 57 days | 1,853 sqft |
| 2022-12-01 | 68 days | 1,912 sqft |
| 2023-01-01 | 75 days | 1,820 sqft |
| 2023-02-01 | 59 days | 2,030 sqft |
| 2023-03-01 | 33 days | 2,196 sqft |
| 2023-04-01 | 31 days | 2,250 sqft |
| 2023-05-01 | 46 days | 2,257 sqft |
| 2023-06-01 | 40 days | 2,385 sqft |
| 2023-07-01 | 37 days | 2,260 sqft |
| 2023-08-01 | 46 days | 2,263 sqft |
| 2023-09-01 | 38 days | 2,335 sqft |
| 2023-10-01 | 40 days | 2,163 sqft |
| 2023-11-01 | 43 days | 2,085 sqft |
| 2023-12-01 | 57 days | 2,000 sqft |
| 2024-01-01 | 72 days | 2,000 sqft |
| 2024-02-01 | 49 days | 1,962 sqft |
| 2024-03-01 | 36 days | 2,012 sqft |
State College's median square footage for active listings during the 2024-03-01 period was 2,012 sqft. One year prior, the average listing was 2,196 sqft.