Mortgage Rates in Gilroy, California — March 2026
Updated March 2026 | Based on Gilroy market data and regional lending conditions
Gilroy is a growing city in California with a population of 59,520. The current 30-year fixed mortgage rate in Gilroy is 6.85%, which is 0.2% above the national average. With a median home price of $846,000 and a 20% down payment of $169,200, homebuyers can expect a monthly principal and interest payment of approximately $4,435.
Current Mortgage Rates in Gilroy, CA
Below are the current average mortgage rates available in the Gilroy 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 | 6.85% | 6.65% | +0.2% |
| 15-Year Fixed | 6.07% | 5.89% | +0.18% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.1% | 6.85% | +0.25% |
Gilroy Housing Market Overview
The Gilroy housing market is competitive with prices well above the national median. The median household income in Gilroy is $72,100, and the cost of living index is 141.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $212,743 to comfortably afford the median-priced home in Gilroy, which exceeds the current median household income.
Monthly Payment Breakdown for Gilroy
Based on the median home price of $846,000 with 20% down ($169,200), here is what you can expect to pay monthly in Gilroy:
15-Year vs. 30-Year Mortgage in Gilroy
Choosing a 15-year mortgage in Gilroy at 6.07% instead of a 30-year at 6.85% would save you $563,940 in total interest over the life of the loan. However, your monthly payment would be $5,737 instead of $4,435 — an increase of $1,302 per month.
Calculate Your Gilroy Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Gilroy
What are the current mortgage rates in Gilroy, CA?
As of March 2026, the average 30-year fixed mortgage rate in Gilroy, California is 6.85%, while the 15-year fixed rate is 6.07%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.2% above the national average of 6.65%.
How much is a monthly mortgage payment in Gilroy?
Based on the median home price of $846,000 with 20% down, the estimated monthly mortgage payment in Gilroy is $4,435 for principal and interest. Including property taxes of $529/month, the total monthly housing cost is approximately $4,964.
What income do I need to buy a home in Gilroy?
Using the 28% rule, you would need an annual income of approximately $212,743 to afford the median-priced home in Gilroy at $846,000. The median household income in Gilroy is $72,100. This means most households would need to either earn above the median or consider homes below $846,000.
Is Gilroy a good place to buy a home in 2026?
Gilroy has a higher cost of living than average with a cost of living index of 141.9 (national average = 100). The property tax rate in California is 0.75%, which is below the national average. Gilroy has a population of 59,520 and offers a balanced lifestyle.
Mortgage Rates in Other California Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Gilroy, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.