Watertown USDA Loan Rates, Closing Costs & Stats
Watertown, 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.
Watertown's 6 lenders originated 22 USDA loans during 2024. The total origination value was $4,670,000, with an average USDA loan value of $212,273.
Watertown USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Watertown
averaged
6.26%
for the week of 2025-04-04, compared to the national average (all USDA variants) of
6.324% for the same period.
Watertown's average USDA mortgage closing costs are $4,786.
The average rate for the prior week (2025-03-28) was
6.12% and
one month ago for the week of 2025-02-28, the
average rate was 6.17%.
The average rate one year ago was 6.53%.
For refis of the same type during the week of 2025-04-04, the average rate
was 6.32%.
Watertown 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 Watertown level.
| Name | # of Loans | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| First Bank & Trust | 9 | 5.42% | $5,549 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 4 | 5.72% | $5,380 |
| Dacotah Bank | 3 | 5.25% | $3,730 |
| Plains Commerce Bank | 3 | 5.50% | $5,461 |
| American Bank & Trust | 1 | 5.63% | $7,719 |
| CU MORTGAGE DIRECT, LLC | 1 | 5.25% | $4,977 |
The top Watertown USDA lender as defined by loan originations is First Bank & Trust, with
9 USDA loans originated. Their average total fees are
$5,549, which is $169
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Watertown USDA lenders (with over 10 loans originated) are
.
The lowest rate Watertown USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Watertown (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 | $236,950 (4.2%) | $254,999 (3.4%) | 0.00 | 144 |
| 2018-02-01 | $234,900 (2.6%) | $254,898 (1.4%) | 0.00 | 149 |
| 2018-03-01 | $239,000 (8.2%) | $260,814 (4.9%) | 0.00 | 160 |
| 2018-04-01 | $244,900 (16.7%) | $266,369 (10.5%) | 0.00 | 158 |
| 2018-05-01 | $244,600 (17.9%) | $261,188 (8.4%) | 0.00 | 165 |
| 2018-06-01 | $253,900 (12.1%) | $273,440 (6.7%) | 0.00 | 157 |
| 2018-07-01 | $242,400 (5.4%) | $258,672 (0.3%) | 0.00 | 163 |
| 2018-08-01 | $240,550 (5.4%) | $256,101 (0.5%) | 0.00 | 161 |
| 2018-09-01 | $234,900 (2.2%) | $252,686 (-2.4%) | 0.00 | 149 |
| 2018-10-01 | $234,900 (3.2%) | $246,897 (-4.8%) | 0.00 | 143 |
| 2018-11-01 | $229,400 (4.4%) | $243,616 (-0.7%) | 0.00 | 145 |
| 2018-12-01 | $233,000 (5.5%) | $243,618 (-2.5%) | 0.00 | 133 |
| 2019-01-01 | $227,500 (-4.0%) | $240,249 (-5.8%) | 0.00 | 127 |
| 2019-02-01 | $219,950 (-6.4%) | $231,973 (-9.0%) | 0.00 | 129 |
| 2019-03-01 | $229,779 (-3.9%) | $237,893 (-8.8%) | 0.00 | 133 |
| 2019-04-01 | $235,004 (-4.0%) | $243,157 (-8.7%) | 0.00 | 137 |
| 2019-05-01 | $234,400 (-4.2%) | $241,084 (-7.7%) | 0.00 | 159 |
| 2019-06-01 | $232,900 (-8.3%) | $243,148 (-11.1%) | 0.00 | 171 |
| 2019-07-01 | $229,900 (-5.2%) | $241,497 (-6.6%) | 0.00 | 181 |
| 2019-08-01 | $226,355 (-5.9%) | $238,522 (-6.9%) | 0.00 | 178 |
| 2019-09-01 | $221,036 (-5.9%) | $234,963 (-7.0%) | 0.00 | 173 |
| 2019-10-01 | $216,900 (-7.7%) | $231,871 (-6.1%) | 0.00 | 166 |
| 2019-11-01 | $209,000 (-8.9%) | $228,673 (-6.1%) | 0.00 | 154 |
| 2019-12-01 | $211,950 (-9.0%) | $233,228 (-4.3%) | 0.00 | 125 |
| 2020-01-01 | $224,225 (-1.4%) | $243,841 (1.5%) | 0.00 | 113 |
| 2020-02-01 | $229,900 (4.5%) | $245,524 (5.8%) | 0.00 | 125 |
| 2020-03-01 | $227,400 (-1.0%) | $244,066 (2.6%) | 0.00 | 121 |
| 2020-04-01 | $221,950 (-5.6%) | $247,491 (1.8%) | 0.00 | 131 |
| 2020-05-01 | $219,900 (-6.2%) | $245,443 (1.8%) | 0.00 | 143 |
| 2020-06-01 | $241,150 (3.5%) | $261,163 (7.4%) | 0.00 | 152 |
| 2020-07-01 | $257,400 (12.0%) | $268,813 (11.3%) | 0.00 | 138 |
| 2020-08-01 | $249,900 (10.4%) | $266,347 (11.7%) | 0.00 | 116 |
| 2020-09-01 | $229,800 (4.0%) | $266,424 (13.4%) | 0.00 | 118 |
| 2020-10-01 | $224,900 (3.7%) | $264,213 (14.0%) | 0.00 | 112 |
| 2020-11-01 | $217,900 (4.3%) | $263,851 (15.4%) | 0.00 | 98 |
| 2020-12-01 | $234,925 (10.8%) | $280,056 (20.1%) | 0.00 | 82 |
| 2021-01-01 | $234,900 (4.8%) | $278,522 (14.2%) | 0.00 | 75 |
| 2021-02-01 | $242,425 (5.5%) | $296,119 (20.6%) | 0.00 | 61 |
| 2021-03-01 | $266,450 (17.2%) | $316,335 (29.6%) | 0.00 | 67 |
| 2021-04-01 | $312,400 (40.8%) | $330,383 (33.5%) | 0.00 | 85 |
| 2021-05-01 | $339,900 (54.6%) | $338,807 (38.0%) | 0.00 | 86 |
| 2021-06-01 | $349,950 (45.1%) | $368,794 (41.2%) | 0.00 | 88 |
| 2021-07-01 | $379,900 (47.6%) | $375,123 (39.6%) | 0.00 | 91 |
| 2021-08-01 | $356,175 (42.5%) | $365,208 (37.1%) | 0.00 | 96 |
| 2021-09-01 | $339,900 (47.9%) | $348,960 (31.0%) | 0.00 | 93 |
| 2021-10-01 | $339,900 (51.1%) | $333,028 (26.1%) | 0.00 | 80 |
| 2021-11-01 | $339,900 (56.0%) | $330,641 (25.3%) | 0.00 | 69 |
| 2021-12-01 | $339,900 (44.7%) | $317,682 (13.4%) | 0.00 | 59 |
| 2022-01-01 | $339,900 (44.7%) | $331,765 (19.1%) | 0.00 | 46 |
| 2022-02-01 | $339,900 (40.2%) | $331,973 (12.1%) | 0.00 | 49 |
| 2022-03-01 | $339,900 (27.6%) | $329,877 (4.3%) | 0.00 | 47 |
| 2022-04-01 | $339,900 (8.8%) | $307,445 (-6.9%) | 0.00 | 50 |
| 2022-05-01 | $343,650 (1.1%) | $366,726 (8.2%) | 0.00 | 69 |
| 2022-06-01 | $364,900 (4.3%) | $375,807 (1.9%) | 0.00 | 73 |
| 2022-07-01 | $349,900 (-7.9%) | $374,915 (-0.1%) | 0.00 | 78 |
| 2022-08-01 | $359,900 (1.1%) | $394,425 (8.0%) | 0.00 | 68 |
| 2022-09-01 | $374,900 (10.3%) | $393,929 (12.9%) | 0.00 | 77 |
| 2022-10-01 | $339,900 (0.0%) | $362,497 (8.9%) | 0.00 | 67 |
| 2022-11-01 | $329,900 (-2.9%) | $351,933 (6.4%) | 0.00 | 61 |
| 2022-12-01 | $319,900 (-5.9%) | $347,692 (9.5%) | 0.00 | 53 |
| 2023-01-01 | $339,900 (0.0%) | $355,925 (7.3%) | 0.00 | 48 |
| 2023-02-01 | $339,900 (0.0%) | $347,925 (4.8%) | 0.00 | 40 |
| 2023-03-01 | $357,400 (5.2%) | $386,860 (17.3%) | 0.00 | 39 |
| 2023-04-01 | $375,900 (10.6%) | $431,407 (40.3%) | 0.00 | 48 |
| 2023-05-01 | $372,650 (8.4%) | $434,779 (18.6%) | 0.00 | 67 |
| 2023-06-01 | $369,900 (1.4%) | $423,654 (12.7%) | 0.00 | 72 |
| 2023-07-01 | $377,000 (7.8%) | $441,628 (17.8%) | 0.00 | 67 |
| 2023-08-01 | $387,400 (7.6%) | $441,601 (12.0%) | 0.00 | 71 |
| 2023-09-01 | $364,900 (-2.7%) | $428,286 (8.7%) | 0.00 | 85 |
| 2023-10-01 | $350,650 (3.2%) | $417,177 (15.1%) | 0.00 | 87 |
| 2023-11-01 | $350,425 (6.2%) | $400,753 (13.9%) | 0.00 | 84 |
| 2023-12-01 | $354,900 (10.9%) | $396,338 (14.0%) | 0.00 | 82 |
| 2024-01-01 | $364,900 (7.4%) | $397,867 (11.8%) | 0.00 | 69 |
| 2024-02-01 | $381,150 (12.1%) | $396,488 (14.0%) | 0.00 | 67 |
| 2024-03-01 | $374,900 (4.9%) | $412,269 (6.6%) | 0.00 | 53 |
| 2024-04-01 | $394,900 (5.1%) | $428,743 (-0.6%) | 0.00 | 63 |
| 2024-05-01 | $376,900 (1.1%) | $397,449 (-8.6%) | 0.00 | 70 |
| 2024-06-01 | $367,000 (-0.8%) | $389,208 (-8.1%) | 0.00 | 76 |
| 2024-07-01 | $345,700 (-8.3%) | $383,881 (-13.1%) | 0.00 | 91 |
| 2024-08-01 | $359,900 (-7.1%) | $399,348 (-9.6%) | 0.00 | 93 |
| 2024-09-01 | $364,450 (-0.1%) | $401,484 (-6.3%) | 0.00 | 94 |
| 2024-10-01 | $367,450 (4.8%) | $407,430 (-2.3%) | 0.00 | 100 |
| 2024-11-01 | $359,900 (2.7%) | $402,096 (0.3%) | 0.00 | 95 |
| 2024-12-01 | $357,400 (0.7%) | $399,307 (0.8%) | 0.00 | 78 |
| 2025-01-01 | $359,975 (-1.4%) | $411,336 (3.4%) | 0.00 | 63 |
| 2025-02-01 | $369,900 (-3.0%) | $440,148 (11.0%) | 0.00 | 71 |
| 2025-03-01 | $370,000 (-1.3%) | $441,983 (7.2%) | 0.00 | 76 |
Watertown's median listing price comes in at 0% of the national average.
Watertown's average listing price for 2025-03-01 was $441,983, a difference of $29,714 (7.2%) versus the prior year and $1,835 versus the prior month.
For the 2025-03-01 period, Watertown had 76 MLS listings, a difference of 5 listings (7%) versus the prior month and 23 listings (43%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Watertown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 2,354 sqft |
| 2018-02-01 | 0 days | 2,390 sqft |
| 2018-03-01 | 0 days | 2,416 sqft |
| 2018-04-01 | 0 days | 2,491 sqft |
| 2018-05-01 | 0 days | 2,516 sqft |
| 2018-06-01 | 0 days | 2,531 sqft |
| 2018-07-01 | 0 days | 2,420 sqft |
| 2018-08-01 | 0 days | 2,352 sqft |
| 2018-09-01 | 0 days | 2,358 sqft |
| 2018-10-01 | 0 days | 2,296 sqft |
| 2018-11-01 | 0 days | 2,358 sqft |
| 2018-12-01 | 0 days | 2,358 sqft |
| 2019-01-01 | 0 days | 2,304 sqft |
| 2019-02-01 | 0 days | 2,277 sqft |
| 2019-03-01 | 0 days | 2,315 sqft |
| 2019-04-01 | 0 days | 2,372 sqft |
| 2019-05-01 | 0 days | 2,346 sqft |
| 2019-06-01 | 0 days | 2,283 sqft |
| 2019-07-01 | 0 days | 2,280 sqft |
| 2019-08-01 | 0 days | 2,227 sqft |
| 2019-09-01 | 0 days | 2,220 sqft |
| 2019-10-01 | 0 days | 2,214 sqft |
| 2019-11-01 | 0 days | 2,170 sqft |
| 2019-12-01 | 0 days | 2,195 sqft |
| 2020-01-01 | 0 days | 2,243 sqft |
| 2020-02-01 | 0 days | 2,242 sqft |
| 2020-03-01 | 0 days | 2,196 sqft |
| 2020-04-01 | 0 days | 2,172 sqft |
| 2020-05-01 | 0 days | 2,179 sqft |
| 2020-06-01 | 0 days | 2,390 sqft |
| 2020-07-01 | 0 days | 2,439 sqft |
| 2020-08-01 | 0 days | 2,424 sqft |
| 2020-09-01 | 0 days | 2,348 sqft |
| 2020-10-01 | 0 days | 2,280 sqft |
| 2020-11-01 | 0 days | 2,265 sqft |
| 2020-12-01 | 0 days | 2,278 sqft |
| 2021-01-01 | 0 days | 2,148 sqft |
| 2021-02-01 | 0 days | 2,344 sqft |
| 2021-03-01 | 0 days | 2,295 sqft |
| 2021-04-01 | 0 days | 2,114 sqft |
| 2021-05-01 | 0 days | 1,753 sqft |
| 2021-06-01 | 0 days | 1,773 sqft |
| 2021-07-01 | 0 days | 1,742 sqft |
| 2021-08-01 | 0 days | 1,790 sqft |
| 2021-09-01 | 0 days | 1,746 sqft |
| 2021-10-01 | 0 days | 1,731 sqft |
| 2021-11-01 | 0 days | 1,731 sqft |
| 2021-12-01 | 0 days | 1,697 sqft |
| 2022-01-01 | 0 days | 1,731 sqft |
| 2022-02-01 | 0 days | 1,731 sqft |
| 2022-03-01 | 0 days | 1,731 sqft |
| 2022-04-01 | 0 days | 1,731 sqft |
| 2022-05-01 | 0 days | 1,731 sqft |
| 2022-06-01 | 0 days | 1,783 sqft |
| 2022-07-01 | 0 days | 1,926 sqft |
| 2022-08-01 | 0 days | 2,345 sqft |
| 2022-09-01 | 0 days | 2,537 sqft |
| 2022-10-01 | 0 days | 2,232 sqft |
| 2022-11-01 | 0 days | 2,013 sqft |
| 2022-12-01 | 0 days | 2,004 sqft |
| 2023-01-01 | 0 days | 1,901 sqft |
| 2023-02-01 | 0 days | 1,731 sqft |
| 2023-03-01 | 0 days | 1,756 sqft |
| 2023-04-01 | 0 days | 1,940 sqft |
| 2023-05-01 | 0 days | 2,199 sqft |
| 2023-06-01 | 0 days | 1,878 sqft |
| 2023-07-01 | 0 days | 2,009 sqft |
| 2023-08-01 | 0 days | 1,552 sqft |
| 2023-09-01 | 0 days | 1,558 sqft |
| 2023-10-01 | 0 days | 1,501 sqft |
| 2023-11-01 | 0 days | 1,477 sqft |
| 2023-12-01 | 0 days | 1,525 sqft |
| 2024-01-01 | 0 days | 1,525 sqft |
| 2024-02-01 | 0 days | 1,525 sqft |
| 2024-03-01 | 0 days | 1,552 sqft |
| 2024-04-01 | 0 days | 1,544 sqft |
| 2024-05-01 | 0 days | 1,510 sqft |
| 2024-06-01 | 0 days | 1,427 sqft |
| 2024-07-01 | 0 days | 1,427 sqft |
| 2024-08-01 | 0 days | 1,991 sqft |
| 2024-09-01 | 0 days | 1,974 sqft |
| 2024-10-01 | 0 days | 1,976 sqft |
| 2024-11-01 | 0 days | 1,977 sqft |
| 2024-12-01 | 0 days | 1,932 sqft |
| 2025-01-01 | 0 days | 1,909 sqft |
| 2025-02-01 | 0 days | 1,867 sqft |
| 2025-03-01 | 0 days | 1,872 sqft |
Watertown's median square footage for active listings during the 2025-03-01 period was 1,872 sqft. One year prior, the average listing was 1,552 sqft.