Mortgage Rates in Cedar Falls, Iowa — March 2026
Updated March 2026 | Based on Cedar Falls market data and regional lending conditions
Cedar Falls is a growing city in Iowa with a population of 40,713. The current 30-year fixed mortgage rate in Cedar Falls is 6.86%, which is 0.21% above the national average. With a median home price of $188,000 and a 20% down payment of $37,600, homebuyers can expect a monthly principal and interest payment of approximately $987.
Current Mortgage Rates in Cedar Falls, IA
Below are the current average mortgage rates available in the Cedar Falls 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 | 6.86% | 6.65% | +0.21% |
| 15-Year Fixed | 6.08% | 5.89% | +0.19% |
| 5/1 ARM | 6.32% | 6.15% | +0.17% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.11% | 6.85% | +0.26% |
Cedar Falls Housing Market Overview
The Cedar Falls housing market offers relatively affordable housing compared to many major cities. The median household income in Cedar Falls is $57,000, and the cost of living index is 88 (national average = 100). Based on the 28% affordability rule, the median income in Cedar Falls is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Cedar Falls
Based on the median home price of $188,000 with 20% down ($37,600), here is what you can expect to pay monthly in Cedar Falls:
15-Year vs. 30-Year Mortgage in Cedar Falls
Choosing a 15-year mortgage in Cedar Falls at 6.08% instead of a 30-year at 6.86% would save you $125,640 in total interest over the life of the loan. However, your monthly payment would be $1,276 instead of $987 — an increase of $289 per month.
Calculate Your Cedar Falls 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 Cedar Falls
What are the current mortgage rates in Cedar Falls, IA?
As of March 2026, the average 30-year fixed mortgage rate in Cedar Falls, Iowa is 6.86%, while the 15-year fixed rate is 6.08%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.21% above the national average of 6.65%.
How much is a monthly mortgage payment in Cedar Falls?
Based on the median home price of $188,000 with 20% down, the estimated monthly mortgage payment in Cedar Falls is $987 for principal and interest. Including property taxes of $246/month, the total monthly housing cost is approximately $1,233.
What income do I need to buy a home in Cedar Falls?
Using the 28% rule, you would need an annual income of approximately $52,843 to afford the median-priced home in Cedar Falls at $188,000. The median household income in Cedar Falls is $57,000. The median income is currently sufficient to meet this threshold.
Is Cedar Falls a good place to buy a home in 2026?
Cedar Falls offers a below-average cost of living with a cost of living index of 88 (national average = 100). The property tax rate in Iowa is 1.57%, which is above the national average. Cedar Falls has a population of 40,713 and offers a very affordable lifestyle.
Mortgage Rates in Other Iowa Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Cedar Falls, Iowa area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.