Mortgage Rates in Biloxi, Mississippi — March 2026
Updated March 2026 | Based on Biloxi market data and regional lending conditions
Biloxi is a growing city in Mississippi with a population of 46,212. The current 30-year fixed mortgage rate in Biloxi is 6.75%, which is 0.1% above the national average. With a median home price of $195,000 and a 20% down payment of $39,000, homebuyers can expect a monthly principal and interest payment of approximately $1,012.
Current Mortgage Rates in Biloxi, MS
Below are the current average mortgage rates available in the Biloxi 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 | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.35% | 6.25% | +0.1% |
| VA | 6.15% | 6.05% | +0.1% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Biloxi Housing Market Overview
The Biloxi housing market offers relatively affordable housing compared to many major cities. The median household income in Biloxi is $42,250, and the cost of living index is 85.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $48,943 to comfortably afford the median-priced home in Biloxi, which exceeds the current median household income.
Monthly Payment Breakdown for Biloxi
Based on the median home price of $195,000 with 20% down ($39,000), here is what you can expect to pay monthly in Biloxi:
15-Year vs. 30-Year Mortgage in Biloxi
Choosing a 15-year mortgage in Biloxi at 5.99% instead of a 30-year at 6.75% would save you $127,440 in total interest over the life of the loan. However, your monthly payment would be $1,316 instead of $1,012 — an increase of $304 per month.
Calculate Your Biloxi 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 Biloxi
What are the current mortgage rates in Biloxi, MS?
As of March 2026, the average 30-year fixed mortgage rate in Biloxi, Mississippi is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.35% and VA loans 6.15%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Biloxi?
Based on the median home price of $195,000 with 20% down, the estimated monthly mortgage payment in Biloxi is $1,012 for principal and interest. Including property taxes of $130/month, the total monthly housing cost is approximately $1,142.
What income do I need to buy a home in Biloxi?
Using the 28% rule, you would need an annual income of approximately $48,943 to afford the median-priced home in Biloxi at $195,000. The median household income in Biloxi is $42,250. This means most households would need to either earn above the median or consider homes below $195,000.
Is Biloxi a good place to buy a home in 2026?
Biloxi offers a below-average cost of living with a cost of living index of 85.5 (national average = 100). The property tax rate in Mississippi is 0.8%, which is below the national average. Biloxi has a population of 46,212 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Biloxi, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.