Mortgage Rates in Canon City, Colorado — March 2026
Updated March 2026 | Based on Canon City market data and regional lending conditions
Canon City is a growing city in Colorado with a population of 16,990. The current 30-year fixed mortgage rate in Canon City is 6.82%, which is 0.17% above the national average. With a median home price of $513,000 and a 20% down payment of $102,600, homebuyers can expect a monthly principal and interest payment of approximately $2,681.
Current Mortgage Rates in Canon City, CO
Below are the current average mortgage rates available in the Canon City 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 | 6.82% | 6.65% | +0.17% |
| 15-Year Fixed | 6.05% | 5.89% | +0.16% |
| 5/1 ARM | 6.29% | 6.15% | +0.14% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.07% | 6.85% | +0.22% |
Canon City Housing Market Overview
The Canon City housing market is competitive with prices well above the national median. The median household income in Canon City is $63,500, and the cost of living index is 106.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $124,243 to comfortably afford the median-priced home in Canon City, which exceeds the current median household income.
Monthly Payment Breakdown for Canon City
Based on the median home price of $513,000 with 20% down ($102,600), here is what you can expect to pay monthly in Canon City:
15-Year vs. 30-Year Mortgage in Canon City
Choosing a 15-year mortgage in Canon City at 6.05% instead of a 30-year at 6.82% would save you $339,840 in total interest over the life of the loan. However, your monthly payment would be $3,474 instead of $2,681 — an increase of $793 per month.
Calculate Your Canon City 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 Canon City
What are the current mortgage rates in Canon City, CO?
As of March 2026, the average 30-year fixed mortgage rate in Canon City, Colorado is 6.82%, while the 15-year fixed rate is 6.05%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.17% above the national average of 6.65%.
How much is a monthly mortgage payment in Canon City?
Based on the median home price of $513,000 with 20% down, the estimated monthly mortgage payment in Canon City is $2,681 for principal and interest. Including property taxes of $218/month, the total monthly housing cost is approximately $2,899.
What income do I need to buy a home in Canon City?
Using the 28% rule, you would need an annual income of approximately $124,243 to afford the median-priced home in Canon City at $513,000. The median household income in Canon City is $63,500. This means most households would need to either earn above the median or consider homes below $513,000.
Is Canon City a good place to buy a home in 2026?
Canon City has a moderate cost of living with a cost of living index of 106.5 (national average = 100). The property tax rate in Colorado is 0.51%, which is below the national average. Canon City has a population of 16,990 and offers a balanced lifestyle.
Mortgage Rates in Other Colorado Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Canon City, Colorado area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.