Mortgage Rates in Oak Ridge, Tennessee — March 2026
Updated March 2026 | Based on Oak Ridge market data and regional lending conditions
Oak Ridge is a growing city in Tennessee with a population of 30,013. The current 30-year fixed mortgage rate in Oak Ridge is 6.48%, which is 0.17% below the national average. With a median home price of $225,000 and a 20% down payment of $45,000, homebuyers can expect a monthly principal and interest payment of approximately $1,135.
Current Mortgage Rates in Oak Ridge, TN
Below are the current average mortgage rates available in the Oak Ridge 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 | 6.48% | 6.65% | -0.17% |
| 15-Year Fixed | 5.72% | 5.89% | -0.17% |
| 5/1 ARM | 5.98% | 6.15% | -0.17% |
| FHA | 6.08% | 6.25% | -0.17% |
| VA | 5.88% | 6.05% | -0.17% |
| Jumbo | 6.68% | 6.85% | -0.17% |
Oak Ridge Housing Market Overview
The Oak Ridge housing market offers relatively affordable housing compared to many major cities. The median household income in Oak Ridge is $48,000, and the cost of living index is 86 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $54,257 to comfortably afford the median-priced home in Oak Ridge, which exceeds the current median household income.
Monthly Payment Breakdown for Oak Ridge
Based on the median home price of $225,000 with 20% down ($45,000), here is what you can expect to pay monthly in Oak Ridge:
15-Year vs. 30-Year Mortgage in Oak Ridge
Choosing a 15-year mortgage in Oak Ridge at 5.72% instead of a 30-year at 6.48% would save you $140,040 in total interest over the life of the loan. However, your monthly payment would be $1,492 instead of $1,135 — an increase of $357 per month.
Calculate Your Oak Ridge 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 Oak Ridge
What are the current mortgage rates in Oak Ridge, TN?
As of March 2026, the average 30-year fixed mortgage rate in Oak Ridge, Tennessee is 6.48%, while the 15-year fixed rate is 5.72%. FHA loans average 6.08% and VA loans 5.88%. These rates are 0.17% below the national average of 6.65%.
How much is a monthly mortgage payment in Oak Ridge?
Based on the median home price of $225,000 with 20% down, the estimated monthly mortgage payment in Oak Ridge is $1,135 for principal and interest. Including property taxes of $131/month, the total monthly housing cost is approximately $1,266.
What income do I need to buy a home in Oak Ridge?
Using the 28% rule, you would need an annual income of approximately $54,257 to afford the median-priced home in Oak Ridge at $225,000. The median household income in Oak Ridge is $48,000. This means most households would need to either earn above the median or consider homes below $225,000.
Is Oak Ridge a good place to buy a home in 2026?
Oak Ridge offers a below-average cost of living with a cost of living index of 86 (national average = 100). The property tax rate in Tennessee is 0.7%, which is below the national average. Oak Ridge has a population of 30,013 and offers a very affordable lifestyle.
Mortgage Rates in Other Tennessee Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Oak Ridge, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.