Mortgage Rates in Hornell, New York — March 2026
Updated March 2026 | Based on Hornell market data and regional lending conditions
Hornell is a growing city in New York with a population of 8,304. The current 30-year fixed mortgage rate in Hornell is 6.01%, which is 0.64% below the national average. With a median home price of $85,000 and a 20% down payment of $17,000, homebuyers can expect a monthly principal and interest payment of approximately $408.
Current Mortgage Rates in Hornell, NY
Below are the current average mortgage rates available in the Hornell 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 | 6.01% | 6.65% | -0.64% |
| 15-Year Fixed | 5.25% | 5.89% | -0.64% |
| 5/1 ARM | 5.51% | 6.15% | -0.64% |
| FHA | 5.61% | 6.25% | -0.64% |
| VA | 5.41% | 6.05% | -0.64% |
| Jumbo | 6.21% | 6.85% | -0.64% |
Hornell Housing Market Overview
The Hornell housing market offers relatively affordable housing compared to many major cities. The median household income in Hornell is $30,000, and the cost of living index is 78 (national average = 100). Based on the 28% affordability rule, the median income in Hornell is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Hornell
Based on the median home price of $85,000 with 20% down ($17,000), here is what you can expect to pay monthly in Hornell:
15-Year vs. 30-Year Mortgage in Hornell
Choosing a 15-year mortgage in Hornell at 5.25% instead of a 30-year at 6.01% would save you $48,420 in total interest over the life of the loan. However, your monthly payment would be $547 instead of $408 — an increase of $139 per month.
Calculate Your Hornell 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 Hornell
What are the current mortgage rates in Hornell, NY?
As of March 2026, the average 30-year fixed mortgage rate in Hornell, New York is 6.01%, while the 15-year fixed rate is 5.25%. FHA loans average 5.61% and VA loans 5.41%. These rates are 0.64% below the national average of 6.65%.
How much is a monthly mortgage payment in Hornell?
Based on the median home price of $85,000 with 20% down, the estimated monthly mortgage payment in Hornell is $408 for principal and interest. Including property taxes of $116/month, the total monthly housing cost is approximately $524.
What income do I need to buy a home in Hornell?
Using the 28% rule, you would need an annual income of approximately $22,457 to afford the median-priced home in Hornell at $85,000. The median household income in Hornell is $30,000. The median income is currently sufficient to meet this threshold.
Is Hornell a good place to buy a home in 2026?
Hornell offers a below-average cost of living with a cost of living index of 78 (national average = 100). The property tax rate in New York is 1.64%, which is above the national average. Hornell has a population of 8,304 and offers a very affordable lifestyle.
Mortgage Rates in Other New York Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Hornell, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.