Mortgage Rates in Merriam, Kansas — March 2026
Updated March 2026 | Based on Merriam market data and regional lending conditions
Merriam is a growing city in Kansas with a population of 11,003. The current 30-year fixed mortgage rate in Merriam is 6.64%, which is 0.01% below the national average. With a median home price of $155,000 and a 20% down payment of $31,000, homebuyers can expect a monthly principal and interest payment of approximately $795.
Current Mortgage Rates in Merriam, KS
Below are the current average mortgage rates available in the Merriam 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Merriam Housing Market Overview
The Merriam housing market offers relatively affordable housing compared to many major cities. The median household income in Merriam is $55,000, and the cost of living index is 81.5 (national average = 100). Based on the 28% affordability rule, the median income in Merriam is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Merriam
Based on the median home price of $155,000 with 20% down ($31,000), here is what you can expect to pay monthly in Merriam:
15-Year vs. 30-Year Mortgage in Merriam
Choosing a 15-year mortgage in Merriam at 5.9% instead of a 30-year at 6.64% would save you $99,000 in total interest over the life of the loan. However, your monthly payment would be $1,040 instead of $795 — an increase of $245 per month.
Calculate Your Merriam 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 Merriam
What are the current mortgage rates in Merriam, KS?
As of March 2026, the average 30-year fixed mortgage rate in Merriam, Kansas is 6.64%, while the 15-year fixed rate is 5.9%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Merriam?
Based on the median home price of $155,000 with 20% down, the estimated monthly mortgage payment in Merriam is $795 for principal and interest. Including property taxes of $181/month, the total monthly housing cost is approximately $976.
What income do I need to buy a home in Merriam?
Using the 28% rule, you would need an annual income of approximately $41,829 to afford the median-priced home in Merriam at $155,000. The median household income in Merriam is $55,000. The median income is currently sufficient to meet this threshold.
Is Merriam a good place to buy a home in 2026?
Merriam offers a below-average cost of living with a cost of living index of 81.5 (national average = 100). The property tax rate in Kansas is 1.4%, which is near the national average. Merriam has a population of 11,003 and offers a very affordable lifestyle.
Mortgage Rates in Other Kansas Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Merriam, Kansas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.