Mortgage Rates in McDonough, Georgia — March 2026
Updated March 2026 | Based on McDonough market data and regional lending conditions
McDonough is a growing city in Georgia with a population of 27,714. The current 30-year fixed mortgage rate in McDonough is 6.6%, which is 0.05% below the national average. With a median home price of $289,000 and a 20% down payment of $57,800, homebuyers can expect a monthly principal and interest payment of approximately $1,477.
Current Mortgage Rates in McDonough, GA
Below are the current average mortgage rates available in the McDonough 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 | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.87% | 5.89% | -0.02% |
| 5/1 ARM | 6.16% | 6.15% | +0.01% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.85% | 6.85% | 0% |
McDonough Housing Market Overview
The McDonough housing market offers relatively affordable housing compared to many major cities. The median household income in McDonough is $59,700, and the cost of living index is 95.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,300 to comfortably afford the median-priced home in McDonough, which exceeds the current median household income.
Monthly Payment Breakdown for McDonough
Based on the median home price of $289,000 with 20% down ($57,800), here is what you can expect to pay monthly in McDonough:
15-Year vs. 30-Year Mortgage in McDonough
Choosing a 15-year mortgage in McDonough at 5.87% instead of a 30-year at 6.6% would save you $183,420 in total interest over the life of the loan. However, your monthly payment would be $1,935 instead of $1,477 — an increase of $458 per month.
Calculate Your McDonough Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in McDonough
What are the current mortgage rates in McDonough, GA?
As of March 2026, the average 30-year fixed mortgage rate in McDonough, Georgia is 6.6%, while the 15-year fixed rate is 5.87%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in McDonough?
Based on the median home price of $289,000 with 20% down, the estimated monthly mortgage payment in McDonough is $1,477 for principal and interest. Including property taxes of $210/month, the total monthly housing cost is approximately $1,687.
What income do I need to buy a home in McDonough?
Using the 28% rule, you would need an annual income of approximately $72,300 to afford the median-priced home in McDonough at $289,000. The median household income in McDonough is $59,700. This means most households would need to either earn above the median or consider homes below $289,000.
Is McDonough a good place to buy a home in 2026?
McDonough offers a below-average cost of living with a cost of living index of 95.4 (national average = 100). The property tax rate in Georgia is 0.87%, which is near the national average. McDonough has a population of 27,714 and offers a balanced lifestyle.
Mortgage Rates in Other Georgia Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the McDonough, Georgia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.