Mortgage Rates in Gurnee, Illinois — March 2026
Updated March 2026 | Based on Gurnee market data and regional lending conditions
Gurnee is a growing city in Illinois with a population of 30,771. The current 30-year fixed mortgage rate in Gurnee is 6.68%, which is 0.03% above the national average. With a median home price of $237,000 and a 20% down payment of $47,400, homebuyers can expect a monthly principal and interest payment of approximately $1,221.
Current Mortgage Rates in Gurnee, IL
Below are the current average mortgage rates available in the Gurnee 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 | 6.68% | 6.65% | +0.03% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.21% | 6.15% | +0.06% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.93% | 6.85% | +0.08% |
Gurnee Housing Market Overview
The Gurnee housing market offers relatively affordable housing compared to many major cities. The median household income in Gurnee is $60,500, and the cost of living index is 92.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $69,171 to comfortably afford the median-priced home in Gurnee, which exceeds the current median household income.
Monthly Payment Breakdown for Gurnee
Based on the median home price of $237,000 with 20% down ($47,400), here is what you can expect to pay monthly in Gurnee:
15-Year vs. 30-Year Mortgage in Gurnee
Choosing a 15-year mortgage in Gurnee at 5.93% instead of a 30-year at 6.68% would save you $152,820 in total interest over the life of the loan. However, your monthly payment would be $1,593 instead of $1,221 — an increase of $372 per month.
Calculate Your Gurnee 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 Gurnee
What are the current mortgage rates in Gurnee, IL?
As of March 2026, the average 30-year fixed mortgage rate in Gurnee, Illinois is 6.68%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.03% above the national average of 6.65%.
How much is a monthly mortgage payment in Gurnee?
Based on the median home price of $237,000 with 20% down, the estimated monthly mortgage payment in Gurnee is $1,221 for principal and interest. Including property taxes of $393/month, the total monthly housing cost is approximately $1,614.
What income do I need to buy a home in Gurnee?
Using the 28% rule, you would need an annual income of approximately $69,171 to afford the median-priced home in Gurnee at $237,000. The median household income in Gurnee is $60,500. This means most households would need to either earn above the median or consider homes below $237,000.
Is Gurnee a good place to buy a home in 2026?
Gurnee offers a below-average cost of living with a cost of living index of 92.4 (national average = 100). The property tax rate in Illinois is 1.99%, which is above the national average. Gurnee has a population of 30,771 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Gurnee, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.