Mortgage Rates in College Park, Maryland — March 2026
Updated March 2026 | Based on College Park market data and regional lending conditions
College Park is a growing city in Maryland with a population of 32,196. The current 30-year fixed mortgage rate in College Park is 6.77%, which is 0.12% above the national average. With a median home price of $341,000 and a 20% down payment of $68,200, homebuyers can expect a monthly principal and interest payment of approximately $1,773.
Current Mortgage Rates in College Park, MD
Below are the current average mortgage rates available in the College Park 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 | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.02% | 6.85% | +0.17% |
College Park Housing Market Overview
The College Park housing market reflects moderate demand with prices near the national average. The median household income in College Park is $81,900, and the cost of living index is 118.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $88,886 to comfortably afford the median-priced home in College Park, which exceeds the current median household income.
Monthly Payment Breakdown for College Park
Based on the median home price of $341,000 with 20% down ($68,200), here is what you can expect to pay monthly in College Park:
15-Year vs. 30-Year Mortgage in College Park
Choosing a 15-year mortgage in College Park at 6% instead of a 30-year at 6.77% would save you $223,920 in total interest over the life of the loan. However, your monthly payment would be $2,302 instead of $1,773 — an increase of $529 per month.
Calculate Your College Park 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 College Park
What are the current mortgage rates in College Park, MD?
As of March 2026, the average 30-year fixed mortgage rate in College Park, Maryland is 6.77%, while the 15-year fixed rate is 6%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in College Park?
Based on the median home price of $341,000 with 20% down, the estimated monthly mortgage payment in College Park is $1,773 for principal and interest. Including property taxes of $301/month, the total monthly housing cost is approximately $2,074.
What income do I need to buy a home in College Park?
Using the 28% rule, you would need an annual income of approximately $88,886 to afford the median-priced home in College Park at $341,000. The median household income in College Park is $81,900. This means most households would need to either earn above the median or consider homes below $341,000.
Is College Park a good place to buy a home in 2026?
College Park has a moderate cost of living with a cost of living index of 118.6 (national average = 100). The property tax rate in Maryland is 1.06%, which is near the national average. College Park has a population of 32,196 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the College Park, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.