Mortgage Rates in Buffalo, Minnesota — March 2026
Updated March 2026 | Based on Buffalo market data and regional lending conditions
Buffalo is a growing city in Minnesota with a population of 18,143. The current 30-year fixed mortgage rate in Buffalo is 6.67%, which is 0.02% above the national average. With a median home price of $273,000 and a 20% down payment of $54,600, homebuyers can expect a monthly principal and interest payment of approximately $1,405.
Current Mortgage Rates in Buffalo, MN
Below are the current average mortgage rates available in the Buffalo 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Buffalo Housing Market Overview
The Buffalo housing market offers relatively affordable housing compared to many major cities. The median household income in Buffalo is $77,600, and the cost of living index is 94.2 (national average = 100). Based on the 28% affordability rule, the median income in Buffalo is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Buffalo
Based on the median home price of $273,000 with 20% down ($54,600), here is what you can expect to pay monthly in Buffalo:
15-Year vs. 30-Year Mortgage in Buffalo
Choosing a 15-year mortgage in Buffalo at 5.93% instead of a 30-year at 6.67% would save you $175,500 in total interest over the life of the loan. However, your monthly payment would be $1,835 instead of $1,405 — an increase of $430 per month.
Calculate Your Buffalo 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 Buffalo
What are the current mortgage rates in Buffalo, MN?
As of March 2026, the average 30-year fixed mortgage rate in Buffalo, Minnesota is 6.67%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Buffalo?
Based on the median home price of $273,000 with 20% down, the estimated monthly mortgage payment in Buffalo is $1,405 for principal and interest. Including property taxes of $266/month, the total monthly housing cost is approximately $1,671.
What income do I need to buy a home in Buffalo?
Using the 28% rule, you would need an annual income of approximately $71,614 to afford the median-priced home in Buffalo at $273,000. The median household income in Buffalo is $77,600. The median income is currently sufficient to meet this threshold.
Is Buffalo a good place to buy a home in 2026?
Buffalo offers a below-average cost of living with a cost of living index of 94.2 (national average = 100). The property tax rate in Minnesota is 1.17%, which is near the national average. Buffalo has a population of 18,143 and offers a very affordable lifestyle.
Mortgage Rates in Other Minnesota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Buffalo, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.