Mortgage Rates in Edina, Minnesota — March 2026
Updated March 2026 | Based on Edina market data and regional lending conditions
Edina is a growing city in Minnesota with a population of 53,494. The current 30-year fixed mortgage rate in Edina is 6.64%, which is 0.01% below the national average. With a median home price of $347,000 and a 20% down payment of $69,400, homebuyers can expect a monthly principal and interest payment of approximately $1,780.
Current Mortgage Rates in Edina, MN
Below are the current average mortgage rates available in the Edina 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Edina Housing Market Overview
The Edina housing market reflects moderate demand with prices near the national average. The median household income in Edina is $71,500, and the cost of living index is 94.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $91,029 to comfortably afford the median-priced home in Edina, which exceeds the current median household income.
Monthly Payment Breakdown for Edina
Based on the median home price of $347,000 with 20% down ($69,400), here is what you can expect to pay monthly in Edina:
15-Year vs. 30-Year Mortgage in Edina
Choosing a 15-year mortgage in Edina at 5.91% instead of a 30-year at 6.64% would save you $221,580 in total interest over the life of the loan. However, your monthly payment would be $2,329 instead of $1,780 — an increase of $549 per month.
Calculate Your Edina 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 Edina
What are the current mortgage rates in Edina, MN?
As of March 2026, the average 30-year fixed mortgage rate in Edina, Minnesota is 6.64%, while the 15-year fixed rate is 5.91%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Edina?
Based on the median home price of $347,000 with 20% down, the estimated monthly mortgage payment in Edina is $1,780 for principal and interest. Including property taxes of $344/month, the total monthly housing cost is approximately $2,124.
What income do I need to buy a home in Edina?
Using the 28% rule, you would need an annual income of approximately $91,029 to afford the median-priced home in Edina at $347,000. The median household income in Edina is $71,500. This means most households would need to either earn above the median or consider homes below $347,000.
Is Edina a good place to buy a home in 2026?
Edina offers a below-average cost of living with a cost of living index of 94.7 (national average = 100). The property tax rate in Minnesota is 1.19%, which is near the national average. Edina has a population of 53,494 and offers a very affordable lifestyle.
Mortgage Rates in Other Minnesota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Edina, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.