Mortgage Rates in Indianola, Mississippi — March 2026
Updated March 2026 | Based on Indianola market data and regional lending conditions
Indianola is a growing city in Mississippi with a population of 9,449. The current 30-year fixed mortgage rate in Indianola is 6.85%, which is 0.2% above the national average. With a median home price of $108,000 and a 20% down payment of $21,600, homebuyers can expect a monthly principal and interest payment of approximately $566.
Current Mortgage Rates in Indianola, MS
Below are the current average mortgage rates available in the Indianola 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% |
Indianola Housing Market Overview
The Indianola housing market offers relatively affordable housing compared to many major cities. The median household income in Indianola is $47,200, and the cost of living index is 83.5 (national average = 100). Based on the 28% affordability rule, the median income in Indianola is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Indianola
Based on the median home price of $108,000 with 20% down ($21,600), here is what you can expect to pay monthly in Indianola:
15-Year vs. 30-Year Mortgage in Indianola
Choosing a 15-year mortgage in Indianola at 6.07% instead of a 30-year at 6.85% would save you $72,000 in total interest over the life of the loan. However, your monthly payment would be $732 instead of $566 — an increase of $166 per month.
Calculate Your Indianola 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 Indianola
What are the current mortgage rates in Indianola, MS?
As of March 2026, the average 30-year fixed mortgage rate in Indianola, Mississippi 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 Indianola?
Based on the median home price of $108,000 with 20% down, the estimated monthly mortgage payment in Indianola is $566 for principal and interest. Including property taxes of $70/month, the total monthly housing cost is approximately $636.
What income do I need to buy a home in Indianola?
Using the 28% rule, you would need an annual income of approximately $27,257 to afford the median-priced home in Indianola at $108,000. The median household income in Indianola is $47,200. The median income is currently sufficient to meet this threshold.
Is Indianola a good place to buy a home in 2026?
Indianola offers a below-average cost of living with a cost of living index of 83.5 (national average = 100). The property tax rate in Mississippi is 0.78%, which is below the national average. Indianola has a population of 9,449 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Indianola, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.