Mortgage Rates in Montrose, Colorado — March 2026
Updated March 2026 | Based on Montrose market data and regional lending conditions
Montrose is a growing city in Colorado with a population of 21,012. The current 30-year fixed mortgage rate in Montrose is 6.31%, which is 0.34% below the national average. With a median home price of $345,000 and a 20% down payment of $69,000, homebuyers can expect a monthly principal and interest payment of approximately $1,711.
Current Mortgage Rates in Montrose, CO
Below are the current average mortgage rates available in the Montrose 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 | 6.31% | 6.65% | -0.34% |
| 15-Year Fixed | 5.55% | 5.89% | -0.34% |
| 5/1 ARM | 5.81% | 6.15% | -0.34% |
| FHA | 5.91% | 6.25% | -0.34% |
| VA | 5.71% | 6.05% | -0.34% |
| Jumbo | 6.51% | 6.85% | -0.34% |
Montrose Housing Market Overview
The Montrose housing market reflects moderate demand with prices near the national average. The median household income in Montrose is $42,000, and the cost of living index is 95 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $79,500 to comfortably afford the median-priced home in Montrose, which exceeds the current median household income.
Monthly Payment Breakdown for Montrose
Based on the median home price of $345,000 with 20% down ($69,000), here is what you can expect to pay monthly in Montrose:
15-Year vs. 30-Year Mortgage in Montrose
Choosing a 15-year mortgage in Montrose at 5.55% instead of a 30-year at 6.31% would save you $208,800 in total interest over the life of the loan. However, your monthly payment would be $2,262 instead of $1,711 — an increase of $551 per month.
Calculate Your Montrose 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 Montrose
What are the current mortgage rates in Montrose, CO?
As of March 2026, the average 30-year fixed mortgage rate in Montrose, Colorado is 6.31%, while the 15-year fixed rate is 5.55%. FHA loans average 5.91% and VA loans 5.71%. These rates are 0.34% below the national average of 6.65%.
How much is a monthly mortgage payment in Montrose?
Based on the median home price of $345,000 with 20% down, the estimated monthly mortgage payment in Montrose is $1,711 for principal and interest. Including property taxes of $144/month, the total monthly housing cost is approximately $1,855.
What income do I need to buy a home in Montrose?
Using the 28% rule, you would need an annual income of approximately $79,500 to afford the median-priced home in Montrose at $345,000. The median household income in Montrose is $42,000. This means most households would need to either earn above the median or consider homes below $345,000.
Is Montrose a good place to buy a home in 2026?
Montrose offers a below-average cost of living with a cost of living index of 95 (national average = 100). The property tax rate in Colorado is 0.5%, which is below the national average. Montrose has a population of 21,012 and offers a balanced lifestyle.
Mortgage Rates in Other Colorado Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Montrose, Colorado area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.