Mortgage Rates in Dearborn Heights, Michigan — March 2026
Updated March 2026 | Based on Dearborn Heights market data and regional lending conditions
Dearborn Heights is a growing city in Michigan with a population of 55,949. The current 30-year fixed mortgage rate in Dearborn Heights is 6.83%, which is 0.18% above the national average. With a median home price of $235,000 and a 20% down payment of $47,000, homebuyers can expect a monthly principal and interest payment of approximately $1,229.
Current Mortgage Rates in Dearborn Heights, MI
Below are the current average mortgage rates available in the Dearborn Heights 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% |
Dearborn Heights Housing Market Overview
The Dearborn Heights housing market offers relatively affordable housing compared to many major cities. The median household income in Dearborn Heights is $61,600, and the cost of living index is 87.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $65,614 to comfortably afford the median-priced home in Dearborn Heights, which exceeds the current median household income.
Monthly Payment Breakdown for Dearborn Heights
Based on the median home price of $235,000 with 20% down ($47,000), here is what you can expect to pay monthly in Dearborn Heights:
15-Year vs. 30-Year Mortgage in Dearborn Heights
Choosing a 15-year mortgage in Dearborn Heights at 6.05% instead of a 30-year at 6.83% would save you $155,880 in total interest over the life of the loan. However, your monthly payment would be $1,592 instead of $1,229 — an increase of $363 per month.
Calculate Your Dearborn Heights 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 Dearborn Heights
What are the current mortgage rates in Dearborn Heights, MI?
As of March 2026, the average 30-year fixed mortgage rate in Dearborn Heights, Michigan 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 Dearborn Heights?
Based on the median home price of $235,000 with 20% down, the estimated monthly mortgage payment in Dearborn Heights is $1,229 for principal and interest. Including property taxes of $302/month, the total monthly housing cost is approximately $1,531.
What income do I need to buy a home in Dearborn Heights?
Using the 28% rule, you would need an annual income of approximately $65,614 to afford the median-priced home in Dearborn Heights at $235,000. The median household income in Dearborn Heights is $61,600. This means most households would need to either earn above the median or consider homes below $235,000.
Is Dearborn Heights a good place to buy a home in 2026?
Dearborn Heights offers a below-average cost of living with a cost of living index of 87.8 (national average = 100). The property tax rate in Michigan is 1.54%, which is above the national average. Dearborn Heights has a population of 55,949 and offers a very affordable lifestyle.
Mortgage Rates in Other Michigan Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Dearborn Heights, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.