Mortgage Rates in Monahans, Texas — March 2026
Updated March 2026 | Based on Monahans market data and regional lending conditions
Monahans is a growing city in Texas with a population of 8,120. The current 30-year fixed mortgage rate in Monahans is 6.85%, which is 0.2% above the national average. With a median home price of $228,000 and a 20% down payment of $45,600, homebuyers can expect a monthly principal and interest payment of approximately $1,195.
Current Mortgage Rates in Monahans, TX
Below are the current average mortgage rates available in the Monahans 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 | 6.85% | 6.65% | +0.2% |
| 15-Year Fixed | 6.07% | 5.89% | +0.18% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.1% | 6.85% | +0.25% |
Monahans Housing Market Overview
The Monahans housing market offers relatively affordable housing compared to many major cities. The median household income in Monahans is $61,400, and the cost of living index is 84.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $65,614 to comfortably afford the median-priced home in Monahans, which exceeds the current median household income.
Monthly Payment Breakdown for Monahans
Based on the median home price of $228,000 with 20% down ($45,600), here is what you can expect to pay monthly in Monahans:
15-Year vs. 30-Year Mortgage in Monahans
Choosing a 15-year mortgage in Monahans at 6.07% instead of a 30-year at 6.85% would save you $151,920 in total interest over the life of the loan. However, your monthly payment would be $1,546 instead of $1,195 — an increase of $351 per month.
Calculate Your Monahans 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 Monahans
What are the current mortgage rates in Monahans, TX?
As of March 2026, the average 30-year fixed mortgage rate in Monahans, Texas is 6.85%, while the 15-year fixed rate is 6.07%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.2% above the national average of 6.65%.
How much is a monthly mortgage payment in Monahans?
Based on the median home price of $228,000 with 20% down, the estimated monthly mortgage payment in Monahans is $1,195 for principal and interest. Including property taxes of $336/month, the total monthly housing cost is approximately $1,531.
What income do I need to buy a home in Monahans?
Using the 28% rule, you would need an annual income of approximately $65,614 to afford the median-priced home in Monahans at $228,000. The median household income in Monahans is $61,400. This means most households would need to either earn above the median or consider homes below $228,000.
Is Monahans a good place to buy a home in 2026?
Monahans offers a below-average cost of living with a cost of living index of 84.5 (national average = 100). The property tax rate in Texas is 1.77%, which is above the national average. Monahans has a population of 8,120 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Monahans, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.