Mortgage Rates in Marquette, Michigan — March 2026
Updated March 2026 | Based on Marquette market data and regional lending conditions
Marquette is a growing city in Michigan with a population of 21,007. The current 30-year fixed mortgage rate in Marquette is 6.44%, which is 0.21% below the national average. With a median home price of $225,000 and a 20% down payment of $45,000, homebuyers can expect a monthly principal and interest payment of approximately $1,131.
Current Mortgage Rates in Marquette, MI
Below are the current average mortgage rates available in the Marquette 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 | 6.44% | 6.65% | -0.21% |
| 15-Year Fixed | 5.68% | 5.89% | -0.21% |
| 5/1 ARM | 5.94% | 6.15% | -0.21% |
| FHA | 6.04% | 6.25% | -0.21% |
| VA | 5.84% | 6.05% | -0.21% |
| Jumbo | 6.64% | 6.85% | -0.21% |
Marquette Housing Market Overview
The Marquette housing market offers relatively affordable housing compared to many major cities. The median household income in Marquette is $38,000, and the cost of living index is 90 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $61,157 to comfortably afford the median-priced home in Marquette, which exceeds the current median household income.
Monthly Payment Breakdown for Marquette
Based on the median home price of $225,000 with 20% down ($45,000), here is what you can expect to pay monthly in Marquette:
15-Year vs. 30-Year Mortgage in Marquette
Choosing a 15-year mortgage in Marquette at 5.68% instead of a 30-year at 6.44% would save you $139,320 in total interest over the life of the loan. However, your monthly payment would be $1,488 instead of $1,131 — an increase of $357 per month.
Calculate Your Marquette 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 Marquette
What are the current mortgage rates in Marquette, MI?
As of March 2026, the average 30-year fixed mortgage rate in Marquette, Michigan is 6.44%, while the 15-year fixed rate is 5.68%. FHA loans average 6.04% and VA loans 5.84%. These rates are 0.21% below the national average of 6.65%.
How much is a monthly mortgage payment in Marquette?
Based on the median home price of $225,000 with 20% down, the estimated monthly mortgage payment in Marquette is $1,131 for principal and interest. Including property taxes of $296/month, the total monthly housing cost is approximately $1,427.
What income do I need to buy a home in Marquette?
Using the 28% rule, you would need an annual income of approximately $61,157 to afford the median-priced home in Marquette at $225,000. The median household income in Marquette is $38,000. This means most households would need to either earn above the median or consider homes below $225,000.
Is Marquette a good place to buy a home in 2026?
Marquette offers a below-average cost of living with a cost of living index of 90 (national average = 100). The property tax rate in Michigan is 1.58%, which is above the national average. Marquette has a population of 21,007 and offers a very affordable lifestyle.
Mortgage Rates in Other Michigan Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Marquette, Michigan area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.