Mortgage Rates in Grand Prairie, Texas — March 2026
Updated March 2026 | Based on Grand Prairie market data and regional lending conditions
Grand Prairie is a growing city in Texas with a population of 196,100. The current 30-year fixed mortgage rate in Grand Prairie is 6.7%, which is 0.05% above the national average. With a median home price of $285,000 and a 20% down payment of $57,000, homebuyers can expect a monthly principal and interest payment of approximately $1,471.
Current Mortgage Rates in Grand Prairie, TX
Below are the current average mortgage rates available in the Grand Prairie 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 | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Grand Prairie Housing Market Overview
The Grand Prairie housing market offers relatively affordable housing compared to many major cities. The median household income in Grand Prairie is $62,500, and the cost of living index is 93.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $81,386 to comfortably afford the median-priced home in Grand Prairie, which exceeds the current median household income.
Monthly Payment Breakdown for Grand Prairie
Based on the median home price of $285,000 with 20% down ($57,000), here is what you can expect to pay monthly in Grand Prairie:
15-Year vs. 30-Year Mortgage in Grand Prairie
Choosing a 15-year mortgage in Grand Prairie at 5.94% instead of a 30-year at 6.7% would save you $184,500 in total interest over the life of the loan. However, your monthly payment would be $1,917 instead of $1,471 — an increase of $446 per month.
Calculate Your Grand Prairie 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 Grand Prairie
What are the current mortgage rates in Grand Prairie, TX?
As of March 2026, the average 30-year fixed mortgage rate in Grand Prairie, Texas is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Grand Prairie?
Based on the median home price of $285,000 with 20% down, the estimated monthly mortgage payment in Grand Prairie is $1,471 for principal and interest. Including property taxes of $428/month, the total monthly housing cost is approximately $1,899.
What income do I need to buy a home in Grand Prairie?
Using the 28% rule, you would need an annual income of approximately $81,386 to afford the median-priced home in Grand Prairie at $285,000. The median household income in Grand Prairie is $62,500. This means most households would need to either earn above the median or consider homes below $285,000.
Is Grand Prairie a good place to buy a home in 2026?
Grand Prairie offers a below-average cost of living with a cost of living index of 93.5 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. Grand Prairie has a population of 196,100 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Grand Prairie, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.