Mortgage Rates in Austin, Texas — March 2026
Updated March 2026 | Based on Austin market data and regional lending conditions
Austin is a major metropolitan area in Texas with a population of 978,908. The current 30-year fixed mortgage rate in Austin is 6.7%, which is 0.05% above the national average. With a median home price of $450,000 and a 20% down payment of $90,000, homebuyers can expect a monthly principal and interest payment of approximately $2,323.
Current Mortgage Rates in Austin, TX
Below are the current average mortgage rates available in the Austin 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% |
Austin Housing Market Overview
The Austin housing market reflects moderate demand with prices near the national average. The median household income in Austin is $75,413, and the cost of living index is 103 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $128,486 to comfortably afford the median-priced home in Austin, which exceeds the current median household income.
Monthly Payment Breakdown for Austin
Based on the median home price of $450,000 with 20% down ($90,000), here is what you can expect to pay monthly in Austin:
15-Year vs. 30-Year Mortgage in Austin
Choosing a 15-year mortgage in Austin at 5.94% instead of a 30-year at 6.7% would save you $291,600 in total interest over the life of the loan. However, your monthly payment would be $3,026 instead of $2,323 — an increase of $703 per month.
Calculate Your Austin 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 Austin
What are the current mortgage rates in Austin, TX?
As of March 2026, the average 30-year fixed mortgage rate in Austin, Texas 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 Austin?
Based on the median home price of $450,000 with 20% down, the estimated monthly mortgage payment in Austin is $2,323 for principal and interest. Including property taxes of $675/month, the total monthly housing cost is approximately $2,998.
What income do I need to buy a home in Austin?
Using the 28% rule, you would need an annual income of approximately $128,486 to afford the median-priced home in Austin at $450,000. The median household income in Austin is $75,413. This means most households would need to either earn above the median or consider homes below $450,000.
Is Austin a good place to buy a home in 2026?
Austin has a moderate cost of living with a cost of living index of 103 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. As a major city with 978,908 residents, Austin offers diverse employment opportunities and amenities.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Austin, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.