Mortgage Rates in Cicero, Illinois — March 2026
Updated March 2026 | Based on Cicero market data and regional lending conditions
Cicero is a growing city in Illinois with a population of 83,891. The current 30-year fixed mortgage rate in Cicero is 6.75%, which is 0.1% above the national average. With a median home price of $245,000 and a 20% down payment of $49,000, homebuyers can expect a monthly principal and interest payment of approximately $1,271.
Current Mortgage Rates in Cicero, IL
Below are the current average mortgage rates available in the Cicero 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 | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7% | 6.85% | +0.15% |
Cicero Housing Market Overview
The Cicero housing market offers relatively affordable housing compared to many major cities. The median household income in Cicero is $61,500, and the cost of living index is 93.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,043 to comfortably afford the median-priced home in Cicero, which exceeds the current median household income.
Monthly Payment Breakdown for Cicero
Based on the median home price of $245,000 with 20% down ($49,000), here is what you can expect to pay monthly in Cicero:
15-Year vs. 30-Year Mortgage in Cicero
Choosing a 15-year mortgage in Cicero at 5.99% instead of a 30-year at 6.75% would save you $160,020 in total interest over the life of the loan. However, your monthly payment would be $1,653 instead of $1,271 — an increase of $382 per month.
Calculate Your Cicero 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 Cicero
What are the current mortgage rates in Cicero, IL?
As of March 2026, the average 30-year fixed mortgage rate in Cicero, Illinois is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Cicero?
Based on the median home price of $245,000 with 20% down, the estimated monthly mortgage payment in Cicero is $1,271 for principal and interest. Including property taxes of $410/month, the total monthly housing cost is approximately $1,681.
What income do I need to buy a home in Cicero?
Using the 28% rule, you would need an annual income of approximately $72,043 to afford the median-priced home in Cicero at $245,000. The median household income in Cicero is $61,500. This means most households would need to either earn above the median or consider homes below $245,000.
Is Cicero a good place to buy a home in 2026?
Cicero offers a below-average cost of living with a cost of living index of 93.6 (national average = 100). The property tax rate in Illinois is 2.01%, which is above the national average. Cicero has a population of 83,891 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Cicero, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.