Mortgage Rates in Monett, Missouri — March 2026
Updated March 2026 | Based on Monett market data and regional lending conditions
Monett is a growing city in Missouri with a population of 9,232. The current 30-year fixed mortgage rate in Monett is 6.62%, which is 0.03% below the national average. With a median home price of $186,000 and a 20% down payment of $37,200, homebuyers can expect a monthly principal and interest payment of approximately $952.
Current Mortgage Rates in Monett, MO
Below are the current average mortgage rates available in the Monett 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 | 6.62% | 6.65% | -0.03% |
| 15-Year Fixed | 5.88% | 5.89% | -0.01% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Monett Housing Market Overview
The Monett housing market offers relatively affordable housing compared to many major cities. The median household income in Monett is $59,000, and the cost of living index is 83.3 (national average = 100). Based on the 28% affordability rule, the median income in Monett is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Monett
Based on the median home price of $186,000 with 20% down ($37,200), here is what you can expect to pay monthly in Monett:
15-Year vs. 30-Year Mortgage in Monett
Choosing a 15-year mortgage in Monett at 5.88% instead of a 30-year at 6.62% would save you $118,440 in total interest over the life of the loan. However, your monthly payment would be $1,246 instead of $952 — an increase of $294 per month.
Calculate Your Monett 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 Monett
What are the current mortgage rates in Monett, MO?
As of March 2026, the average 30-year fixed mortgage rate in Monett, Missouri is 6.62%, while the 15-year fixed rate is 5.88%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.03% below the national average of 6.65%.
How much is a monthly mortgage payment in Monett?
Based on the median home price of $186,000 with 20% down, the estimated monthly mortgage payment in Monett is $952 for principal and interest. Including property taxes of $155/month, the total monthly housing cost is approximately $1,107.
What income do I need to buy a home in Monett?
Using the 28% rule, you would need an annual income of approximately $47,443 to afford the median-priced home in Monett at $186,000. The median household income in Monett is $59,000. The median income is currently sufficient to meet this threshold.
Is Monett a good place to buy a home in 2026?
Monett offers a below-average cost of living with a cost of living index of 83.3 (national average = 100). The property tax rate in Missouri is 1%, which is near the national average. Monett has a population of 9,232 and offers a very affordable lifestyle.
Mortgage Rates in Other Missouri Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Monett, Missouri area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.