Mortgage Rates in Coon Rapids, Minnesota — March 2026
Updated March 2026 | Based on Coon Rapids market data and regional lending conditions
Coon Rapids is a growing city in Minnesota with a population of 63,975. The current 30-year fixed mortgage rate in Coon Rapids is 6.83%, which is 0.18% above the national average. With a median home price of $325,000 and a 20% down payment of $65,000, homebuyers can expect a monthly principal and interest payment of approximately $1,700.
Current Mortgage Rates in Coon Rapids, MN
Below are the current average mortgage rates available in the Coon Rapids 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 | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.05% | 5.89% | +0.16% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
Coon Rapids Housing Market Overview
The Coon Rapids housing market reflects moderate demand with prices near the national average. The median household income in Coon Rapids is $67,100, and the cost of living index is 94.6 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $85,286 to comfortably afford the median-priced home in Coon Rapids, which exceeds the current median household income.
Monthly Payment Breakdown for Coon Rapids
Based on the median home price of $325,000 with 20% down ($65,000), here is what you can expect to pay monthly in Coon Rapids:
15-Year vs. 30-Year Mortgage in Coon Rapids
Choosing a 15-year mortgage in Coon Rapids at 6.05% instead of a 30-year at 6.83% would save you $215,820 in total interest over the life of the loan. However, your monthly payment would be $2,201 instead of $1,700 — an increase of $501 per month.
Calculate Your Coon Rapids Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Coon Rapids
What are the current mortgage rates in Coon Rapids, MN?
As of March 2026, the average 30-year fixed mortgage rate in Coon Rapids, Minnesota is 6.83%, while the 15-year fixed rate is 6.05%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in Coon Rapids?
Based on the median home price of $325,000 with 20% down, the estimated monthly mortgage payment in Coon Rapids is $1,700 for principal and interest. Including property taxes of $290/month, the total monthly housing cost is approximately $1,990.
What income do I need to buy a home in Coon Rapids?
Using the 28% rule, you would need an annual income of approximately $85,286 to afford the median-priced home in Coon Rapids at $325,000. The median household income in Coon Rapids is $67,100. This means most households would need to either earn above the median or consider homes below $325,000.
Is Coon Rapids a good place to buy a home in 2026?
Coon Rapids offers a below-average cost of living with a cost of living index of 94.6 (national average = 100). The property tax rate in Minnesota is 1.07%, which is near the national average. Coon Rapids has a population of 63,975 and offers a very affordable 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 Coon Rapids, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.