Mortgage Rates in Amherst, Massachusetts — March 2026
Updated March 2026 | Based on Amherst market data and regional lending conditions
Amherst is a growing city in Massachusetts with a population of 39,263. The current 30-year fixed mortgage rate in Amherst is 6.89%, which is 0.24% above the national average. With a median home price of $497,000 and a 20% down payment of $99,400, homebuyers can expect a monthly principal and interest payment of approximately $2,616.
Current Mortgage Rates in Amherst, MA
Below are the current average mortgage rates available in the Amherst 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 | 6.89% | 6.65% | +0.24% |
| 15-Year Fixed | 6.1% | 5.89% | +0.21% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.57% | 6.25% | +0.32% |
| VA | 6.32% | 6.05% | +0.27% |
| Jumbo | 7.14% | 6.85% | +0.29% |
Amherst Housing Market Overview
The Amherst housing market reflects moderate demand with prices near the national average. The median household income in Amherst is $71,700, and the cost of living index is 136.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $133,929 to comfortably afford the median-priced home in Amherst, which exceeds the current median household income.
Monthly Payment Breakdown for Amherst
Based on the median home price of $497,000 with 20% down ($99,400), here is what you can expect to pay monthly in Amherst:
15-Year vs. 30-Year Mortgage in Amherst
Choosing a 15-year mortgage in Amherst at 6.1% instead of a 30-year at 6.89% would save you $333,900 in total interest over the life of the loan. However, your monthly payment would be $3,377 instead of $2,616 — an increase of $761 per month.
Calculate Your Amherst 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 Amherst
What are the current mortgage rates in Amherst, MA?
As of March 2026, the average 30-year fixed mortgage rate in Amherst, Massachusetts is 6.89%, while the 15-year fixed rate is 6.1%. FHA loans average 6.57% and VA loans 6.32%. These rates are 0.24% above the national average of 6.65%.
How much is a monthly mortgage payment in Amherst?
Based on the median home price of $497,000 with 20% down, the estimated monthly mortgage payment in Amherst is $2,616 for principal and interest. Including property taxes of $509/month, the total monthly housing cost is approximately $3,125.
What income do I need to buy a home in Amherst?
Using the 28% rule, you would need an annual income of approximately $133,929 to afford the median-priced home in Amherst at $497,000. The median household income in Amherst is $71,700. This means most households would need to either earn above the median or consider homes below $497,000.
Is Amherst a good place to buy a home in 2026?
Amherst has a higher cost of living than average with a cost of living index of 136.9 (national average = 100). The property tax rate in Massachusetts is 1.23%, which is near the national average. Amherst has a population of 39,263 and offers a balanced lifestyle.
Mortgage Rates in Other Massachusetts Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Amherst, Massachusetts area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.