Mortgage Rates in Livonia, Michigan — March 2026
Updated March 2026 | Based on Livonia market data and regional lending conditions
Livonia is a growing city in Michigan with a population of 93,972. The current 30-year fixed mortgage rate in Livonia is 6.66%, which is 0.01% above the national average. With a median home price of $208,000 and a 20% down payment of $41,600, homebuyers can expect a monthly principal and interest payment of approximately $1,069.
Current Mortgage Rates in Livonia, MI
Below are the current average mortgage rates available in the Livonia 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 | 6.66% | 6.65% | +0.01% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Livonia Housing Market Overview
The Livonia housing market offers relatively affordable housing compared to many major cities. The median household income in Livonia is $52,800, and the cost of living index is 87.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $56,529 to comfortably afford the median-priced home in Livonia, which exceeds the current median household income.
Monthly Payment Breakdown for Livonia
Based on the median home price of $208,000 with 20% down ($41,600), here is what you can expect to pay monthly in Livonia:
15-Year vs. 30-Year Mortgage in Livonia
Choosing a 15-year mortgage in Livonia at 5.92% instead of a 30-year at 6.66% would save you $133,380 in total interest over the life of the loan. However, your monthly payment would be $1,397 instead of $1,069 — an increase of $328 per month.
Calculate Your Livonia 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 Livonia
What are the current mortgage rates in Livonia, MI?
As of March 2026, the average 30-year fixed mortgage rate in Livonia, Michigan is 6.66%, while the 15-year fixed rate is 5.92%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.01% above the national average of 6.65%.
How much is a monthly mortgage payment in Livonia?
Based on the median home price of $208,000 with 20% down, the estimated monthly mortgage payment in Livonia is $1,069 for principal and interest. Including property taxes of $250/month, the total monthly housing cost is approximately $1,319.
What income do I need to buy a home in Livonia?
Using the 28% rule, you would need an annual income of approximately $56,529 to afford the median-priced home in Livonia at $208,000. The median household income in Livonia is $52,800. This means most households would need to either earn above the median or consider homes below $208,000.
Is Livonia a good place to buy a home in 2026?
Livonia offers a below-average cost of living with a cost of living index of 87.7 (national average = 100). The property tax rate in Michigan is 1.44%, which is near the national average. Livonia has a population of 93,972 and offers a very affordable lifestyle.
Mortgage Rates in Other Michigan Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Livonia, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.