How To Buy Municipal Bonds Directly May 2026

Most direct muni buying happens here, where you purchase bonds from other investors who already own them.

: There are generally no markups or transaction fees when buying in the primary market. However, minimum investments are often higher—typically starting at $5,000 per bond. 3. Secondary Market: Existing Bonds

: Brokers typically charge a markup (a hidden fee added to the purchase price) or a commission to execute these trades. how to buy municipal bonds directly

: Working with a dedicated bond dealer or bank can provide access to specific inventory and professional guidance, though this often comes with higher fees. 2. Primary Market: New Issues

: Self-managed accounts at firms like Fidelity , Charles Schwab, or Vanguard allow you to research and place orders yourself. Most direct muni buying happens here, where you

: The retail order period usually lasts a few days, giving individual investors a chance to buy at the same price as large institutions before the bonds are available to the general public.

This involves buying bonds during their initial sale period, often called a . they must use an intermediary.

Individual investors typically cannot buy municipal bonds directly from the issuing local government; instead, they must use an intermediary.