Mortgage Rates in Morgan City, Louisiana — March 2026
Updated March 2026 | Based on Morgan City market data and regional lending conditions
Morgan City is a growing city in Louisiana with a population of 10,832. The current 30-year fixed mortgage rate in Morgan City is 6.87%, which is 0.22% above the national average. With a median home price of $182,000 and a 20% down payment of $36,400, homebuyers can expect a monthly principal and interest payment of approximately $956.
Current Mortgage Rates in Morgan City, LA
Below are the current average mortgage rates available in the Morgan City 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 | 6.87% | 6.65% | +0.22% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.32% | 6.15% | +0.17% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.12% | 6.85% | +0.27% |
Morgan City Housing Market Overview
The Morgan City housing market offers relatively affordable housing compared to many major cities. The median household income in Morgan City is $42,100, and the cost of living index is 86.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $44,486 to comfortably afford the median-priced home in Morgan City, which exceeds the current median household income.
Monthly Payment Breakdown for Morgan City
Based on the median home price of $182,000 with 20% down ($36,400), here is what you can expect to pay monthly in Morgan City:
15-Year vs. 30-Year Mortgage in Morgan City
Choosing a 15-year mortgage in Morgan City at 6.09% instead of a 30-year at 6.87% would save you $121,680 in total interest over the life of the loan. However, your monthly payment would be $1,236 instead of $956 — an increase of $280 per month.
Calculate Your Morgan City 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 Morgan City
What are the current mortgage rates in Morgan City, LA?
As of March 2026, the average 30-year fixed mortgage rate in Morgan City, Louisiana is 6.87%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.22% above the national average of 6.65%.
How much is a monthly mortgage payment in Morgan City?
Based on the median home price of $182,000 with 20% down, the estimated monthly mortgage payment in Morgan City is $956 for principal and interest. Including property taxes of $82/month, the total monthly housing cost is approximately $1,038.
What income do I need to buy a home in Morgan City?
Using the 28% rule, you would need an annual income of approximately $44,486 to afford the median-priced home in Morgan City at $182,000. The median household income in Morgan City is $42,100. This means most households would need to either earn above the median or consider homes below $182,000.
Is Morgan City a good place to buy a home in 2026?
Morgan City offers a below-average cost of living with a cost of living index of 86.4 (national average = 100). The property tax rate in Louisiana is 0.54%, which is below the national average. Morgan City has a population of 10,832 and offers a very affordable lifestyle.
Mortgage Rates in Other Louisiana Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Morgan City, Louisiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.