Mortgage Rates in Chaska, Minnesota — March 2026
Updated March 2026 | Based on Chaska market data and regional lending conditions
Chaska is a growing city in Minnesota with a population of 28,259. The current 30-year fixed mortgage rate in Chaska is 6.72%, which is 0.07% above the national average. With a median home price of $297,000 and a 20% down payment of $59,400, homebuyers can expect a monthly principal and interest payment of approximately $1,536.
Current Mortgage Rates in Chaska, MN
Below are the current average mortgage rates available in the Chaska 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Chaska Housing Market Overview
The Chaska housing market offers relatively affordable housing compared to many major cities. The median household income in Chaska is $75,500, and the cost of living index is 96 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $77,700 to comfortably afford the median-priced home in Chaska, which exceeds the current median household income.
Monthly Payment Breakdown for Chaska
Based on the median home price of $297,000 with 20% down ($59,400), here is what you can expect to pay monthly in Chaska:
15-Year vs. 30-Year Mortgage in Chaska
Choosing a 15-year mortgage in Chaska at 5.97% instead of a 30-year at 6.72% would save you $192,780 in total interest over the life of the loan. However, your monthly payment would be $2,001 instead of $1,536 — an increase of $465 per month.
Calculate Your Chaska 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 Chaska
What are the current mortgage rates in Chaska, MN?
As of March 2026, the average 30-year fixed mortgage rate in Chaska, Minnesota is 6.72%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Chaska?
Based on the median home price of $297,000 with 20% down, the estimated monthly mortgage payment in Chaska is $1,536 for principal and interest. Including property taxes of $277/month, the total monthly housing cost is approximately $1,813.
What income do I need to buy a home in Chaska?
Using the 28% rule, you would need an annual income of approximately $77,700 to afford the median-priced home in Chaska at $297,000. The median household income in Chaska is $75,500. This means most households would need to either earn above the median or consider homes below $297,000.
Is Chaska a good place to buy a home in 2026?
Chaska offers a below-average cost of living with a cost of living index of 96 (national average = 100). The property tax rate in Minnesota is 1.12%, which is near the national average. Chaska has a population of 28,259 and offers a balanced 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 Chaska, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.