Mortgage Rates in Albany, Georgia — March 2026
Updated March 2026 | Based on Albany market data and regional lending conditions
Albany is a growing city in Georgia with a population of 69,647. The current 30-year fixed mortgage rate in Albany is 6.7%, which is 0.05% above the national average. With a median home price of $125,000 and a 20% down payment of $25,000, homebuyers can expect a monthly principal and interest payment of approximately $645.
Current Mortgage Rates in Albany, GA
Below are the current average mortgage rates available in the Albany area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Albany Housing Market Overview
The Albany housing market offers relatively affordable housing compared to many major cities. The median household income in Albany is $32,250, and the cost of living index is 80.5 (national average = 100). Based on the 28% affordability rule, the median income in Albany is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Albany
Based on the median home price of $125,000 with 20% down ($25,000), here is what you can expect to pay monthly in Albany:
15-Year vs. 30-Year Mortgage in Albany
Choosing a 15-year mortgage in Albany at 5.94% instead of a 30-year at 6.7% would save you $80,820 in total interest over the life of the loan. However, your monthly payment would be $841 instead of $645 — an increase of $196 per month.
Calculate Your Albany Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Albany
What are the current mortgage rates in Albany, GA?
As of March 2026, the average 30-year fixed mortgage rate in Albany, Georgia is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Albany?
Based on the median home price of $125,000 with 20% down, the estimated monthly mortgage payment in Albany is $645 for principal and interest. Including property taxes of $96/month, the total monthly housing cost is approximately $741.
What income do I need to buy a home in Albany?
Using the 28% rule, you would need an annual income of approximately $31,757 to afford the median-priced home in Albany at $125,000. The median household income in Albany is $32,250. The median income is currently sufficient to meet this threshold.
Is Albany a good place to buy a home in 2026?
Albany offers a below-average cost of living with a cost of living index of 80.5 (national average = 100). The property tax rate in Georgia is 0.92%, which is near the national average. Albany has a population of 69,647 and offers a very affordable lifestyle.
Mortgage Rates in Other Georgia Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Albany, Georgia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.