Mortgage Rates in Cheshire, Connecticut — March 2026
Updated March 2026 | Based on Cheshire market data and regional lending conditions
Cheshire is a growing city in Connecticut with a population of 29,261. The current 30-year fixed mortgage rate in Cheshire is 6.74%, which is 0.09% above the national average. With a median home price of $338,000 and a 20% down payment of $67,600, homebuyers can expect a monthly principal and interest payment of approximately $1,752.
Current Mortgage Rates in Cheshire, CT
Below are the current average mortgage rates available in the Cheshire 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 | 6.74% | 6.65% | +0.09% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.99% | 6.85% | +0.14% |
Cheshire Housing Market Overview
The Cheshire housing market reflects moderate demand with prices near the national average. The median household income in Cheshire is $72,500, and the cost of living index is 109.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $99,600 to comfortably afford the median-priced home in Cheshire, which exceeds the current median household income.
Monthly Payment Breakdown for Cheshire
Based on the median home price of $338,000 with 20% down ($67,600), here is what you can expect to pay monthly in Cheshire:
15-Year vs. 30-Year Mortgage in Cheshire
Choosing a 15-year mortgage in Cheshire at 5.98% instead of a 30-year at 6.74% would save you $220,500 in total interest over the life of the loan. However, your monthly payment would be $2,279 instead of $1,752 — an increase of $527 per month.
Calculate Your Cheshire 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 Cheshire
What are the current mortgage rates in Cheshire, CT?
As of March 2026, the average 30-year fixed mortgage rate in Cheshire, Connecticut is 6.74%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.09% above the national average of 6.65%.
How much is a monthly mortgage payment in Cheshire?
Based on the median home price of $338,000 with 20% down, the estimated monthly mortgage payment in Cheshire is $1,752 for principal and interest. Including property taxes of $572/month, the total monthly housing cost is approximately $2,324.
What income do I need to buy a home in Cheshire?
Using the 28% rule, you would need an annual income of approximately $99,600 to afford the median-priced home in Cheshire at $338,000. The median household income in Cheshire is $72,500. This means most households would need to either earn above the median or consider homes below $338,000.
Is Cheshire a good place to buy a home in 2026?
Cheshire has a moderate cost of living with a cost of living index of 109.9 (national average = 100). The property tax rate in Connecticut is 2.03%, which is above the national average. Cheshire has a population of 29,261 and offers a balanced lifestyle.
Mortgage Rates in Other Connecticut Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Cheshire, Connecticut area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.