Mortgage Rates in Niagara Falls, New York — March 2026
Updated March 2026 | Based on Niagara Falls market data and regional lending conditions
Niagara Falls is a growing city in New York with a population of 48,671. The current 30-year fixed mortgage rate in Niagara Falls is 6.66%, which is 0.01% above the national average. With a median home price of $395,000 and a 20% down payment of $79,000, homebuyers can expect a monthly principal and interest payment of approximately $2,031.
Current Mortgage Rates in Niagara Falls, NY
Below are the current average mortgage rates available in the Niagara Falls 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 | 6.66% | 6.65% | +0.01% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Niagara Falls Housing Market Overview
The Niagara Falls housing market reflects moderate demand with prices near the national average. The median household income in Niagara Falls is $72,000, and the cost of living index is 134.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $109,757 to comfortably afford the median-priced home in Niagara Falls, which exceeds the current median household income.
Monthly Payment Breakdown for Niagara Falls
Based on the median home price of $395,000 with 20% down ($79,000), here is what you can expect to pay monthly in Niagara Falls:
15-Year vs. 30-Year Mortgage in Niagara Falls
Choosing a 15-year mortgage in Niagara Falls at 5.92% instead of a 30-year at 6.66% would save you $253,620 in total interest over the life of the loan. However, your monthly payment would be $2,653 instead of $2,031 — an increase of $622 per month.
Calculate Your Niagara Falls 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 Niagara Falls
What are the current mortgage rates in Niagara Falls, NY?
As of March 2026, the average 30-year fixed mortgage rate in Niagara Falls, New York is 6.66%, while the 15-year fixed rate is 5.92%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% above the national average of 6.65%.
How much is a monthly mortgage payment in Niagara Falls?
Based on the median home price of $395,000 with 20% down, the estimated monthly mortgage payment in Niagara Falls is $2,031 for principal and interest. Including property taxes of $530/month, the total monthly housing cost is approximately $2,561.
What income do I need to buy a home in Niagara Falls?
Using the 28% rule, you would need an annual income of approximately $109,757 to afford the median-priced home in Niagara Falls at $395,000. The median household income in Niagara Falls is $72,000. This means most households would need to either earn above the median or consider homes below $395,000.
Is Niagara Falls a good place to buy a home in 2026?
Niagara Falls has a higher cost of living than average with a cost of living index of 134.2 (national average = 100). The property tax rate in New York is 1.61%, which is above the national average. Niagara Falls has a population of 48,671 and offers a balanced lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Niagara Falls, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.