Mortgage Rates in Lawrence, Indiana — March 2026
Updated March 2026 | Based on Lawrence market data and regional lending conditions
Lawrence is a growing city in Indiana with a population of 49,156. The current 30-year fixed mortgage rate in Lawrence is 6.86%, which is 0.21% above the national average. With a median home price of $201,000 and a 20% down payment of $40,200, homebuyers can expect a monthly principal and interest payment of approximately $1,055.
Current Mortgage Rates in Lawrence, IN
Below are the current average mortgage rates available in the Lawrence 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 | 6.86% | 6.65% | +0.21% |
| 15-Year Fixed | 6.08% | 5.89% | +0.19% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.11% | 6.85% | +0.26% |
Lawrence Housing Market Overview
The Lawrence housing market offers relatively affordable housing compared to many major cities. The median household income in Lawrence is $54,800, and the cost of living index is 79.9 (national average = 100). Based on the 28% affordability rule, the median income in Lawrence is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Lawrence
Based on the median home price of $201,000 with 20% down ($40,200), here is what you can expect to pay monthly in Lawrence:
15-Year vs. 30-Year Mortgage in Lawrence
Choosing a 15-year mortgage in Lawrence at 6.08% instead of a 30-year at 6.86% would save you $134,280 in total interest over the life of the loan. However, your monthly payment would be $1,364 instead of $1,055 — an increase of $309 per month.
Calculate Your Lawrence 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 Lawrence
What are the current mortgage rates in Lawrence, IN?
As of March 2026, the average 30-year fixed mortgage rate in Lawrence, Indiana is 6.86%, while the 15-year fixed rate is 6.08%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.21% above the national average of 6.65%.
How much is a monthly mortgage payment in Lawrence?
Based on the median home price of $201,000 with 20% down, the estimated monthly mortgage payment in Lawrence is $1,055 for principal and interest. Including property taxes of $149/month, the total monthly housing cost is approximately $1,204.
What income do I need to buy a home in Lawrence?
Using the 28% rule, you would need an annual income of approximately $51,600 to afford the median-priced home in Lawrence at $201,000. The median household income in Lawrence is $54,800. The median income is currently sufficient to meet this threshold.
Is Lawrence a good place to buy a home in 2026?
Lawrence offers a below-average cost of living with a cost of living index of 79.9 (national average = 100). The property tax rate in Indiana is 0.89%, which is near the national average. Lawrence has a population of 49,156 and offers a very affordable lifestyle.
Mortgage Rates in Other Indiana Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Lawrence, Indiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.