Mortgage Rates in Minot, North Dakota — March 2026
Updated March 2026 | Based on Minot market data and regional lending conditions
Minot is a growing city in North Dakota with a population of 49,321. The current 30-year fixed mortgage rate in Minot is 6.72%, which is 0.07% above the national average. With a median home price of $255,000 and a 20% down payment of $51,000, homebuyers can expect a monthly principal and interest payment of approximately $1,319.
Current Mortgage Rates in Minot, ND
Below are the current average mortgage rates available in the Minot 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.32% | 6.25% | +0.07% |
| VA | 6.12% | 6.05% | +0.07% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Minot Housing Market Overview
The Minot housing market offers relatively affordable housing compared to many major cities. The median household income in Minot is $52,250, and the cost of living index is 88.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $65,443 to comfortably afford the median-priced home in Minot, which exceeds the current median household income.
Monthly Payment Breakdown for Minot
Based on the median home price of $255,000 with 20% down ($51,000), here is what you can expect to pay monthly in Minot:
15-Year vs. 30-Year Mortgage in Minot
Choosing a 15-year mortgage in Minot at 5.96% instead of a 30-year at 6.72% would save you $165,780 in total interest over the life of the loan. However, your monthly payment would be $1,717 instead of $1,319 — an increase of $398 per month.
Calculate Your Minot 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 Minot
What are the current mortgage rates in Minot, ND?
As of March 2026, the average 30-year fixed mortgage rate in Minot, North Dakota is 6.72%, while the 15-year fixed rate is 5.96%. FHA loans average 6.32% and VA loans 6.12%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Minot?
Based on the median home price of $255,000 with 20% down, the estimated monthly mortgage payment in Minot is $1,319 for principal and interest. Including property taxes of $208/month, the total monthly housing cost is approximately $1,527.
What income do I need to buy a home in Minot?
Using the 28% rule, you would need an annual income of approximately $65,443 to afford the median-priced home in Minot at $255,000. The median household income in Minot is $52,250. This means most households would need to either earn above the median or consider homes below $255,000.
Is Minot a good place to buy a home in 2026?
Minot offers a below-average cost of living with a cost of living index of 88.5 (national average = 100). The property tax rate in North Dakota is 0.98%, which is near the national average. Minot has a population of 49,321 and offers a very affordable lifestyle.
Mortgage Rates in Other North Dakota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Minot, North Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.