Mortgage Rates in Mason City, Iowa — March 2026
Updated March 2026 | Based on Mason City market data and regional lending conditions
Mason City is a growing city in Iowa with a population of 27,256. The current 30-year fixed mortgage rate in Mason City is 6.11%, which is 0.54% below the national average. With a median home price of $125,000 and a 20% down payment of $25,000, homebuyers can expect a monthly principal and interest payment of approximately $607.
Current Mortgage Rates in Mason City, IA
Below are the current average mortgage rates available in the Mason City 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 | 6.11% | 6.65% | -0.54% |
| 15-Year Fixed | 5.35% | 5.89% | -0.54% |
| 5/1 ARM | 5.61% | 6.15% | -0.54% |
| FHA | 5.71% | 6.25% | -0.54% |
| VA | 5.51% | 6.05% | -0.54% |
| Jumbo | 6.31% | 6.85% | -0.54% |
Mason City Housing Market Overview
The Mason City housing market offers relatively affordable housing compared to many major cities. The median household income in Mason City is $38,000, and the cost of living index is 80 (national average = 100). Based on the 28% affordability rule, the median income in Mason City is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Mason City
Based on the median home price of $125,000 with 20% down ($25,000), here is what you can expect to pay monthly in Mason City:
15-Year vs. 30-Year Mortgage in Mason City
Choosing a 15-year mortgage in Mason City at 5.35% instead of a 30-year at 6.11% would save you $72,900 in total interest over the life of the loan. However, your monthly payment would be $809 instead of $607 — an increase of $202 per month.
Calculate Your Mason City 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 Mason City
What are the current mortgage rates in Mason City, IA?
As of March 2026, the average 30-year fixed mortgage rate in Mason City, Iowa is 6.11%, while the 15-year fixed rate is 5.35%. FHA loans average 5.71% and VA loans 5.51%. These rates are 0.54% below the national average of 6.65%.
How much is a monthly mortgage payment in Mason City?
Based on the median home price of $125,000 with 20% down, the estimated monthly mortgage payment in Mason City is $607 for principal and interest. Including property taxes of $160/month, the total monthly housing cost is approximately $767.
What income do I need to buy a home in Mason City?
Using the 28% rule, you would need an annual income of approximately $32,871 to afford the median-priced home in Mason City at $125,000. The median household income in Mason City is $38,000. The median income is currently sufficient to meet this threshold.
Is Mason City a good place to buy a home in 2026?
Mason City offers a below-average cost of living with a cost of living index of 80 (national average = 100). The property tax rate in Iowa is 1.54%, which is above the national average. Mason City has a population of 27,256 and offers a very affordable lifestyle.
Mortgage Rates in Other Iowa Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Mason City, Iowa area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.