Mortgage Rates in Oak Ridge, Tennessee — April 2026
Updated April 2026 | Based on Oak Ridge market data and regional lending conditions
Oak Ridge is a smaller Tennessee community of 30,013 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.48% (0.39% above the national average). The median home price of $225,000 translates to roughly $1,266/month with 20% down — requiring an income of about $54,257, which exceeds the local median of $48,000.
Whether you call it a 30-year mortgage, 30-year home loan, 30-year house loan, or 30-year mortgage loan, the underlying product is the same: a fixed-rate amortizing loan paid over 360 months. In Oak Ridge, TN, the current 30-year rate is 6.48%. Shorter terms (15-year fixed at 5.72% or 20-year fixed, typically priced between the 15- and 30-year) reduce total interest paid but increase monthly payments — see our 15-year vs 30-year comparison for the math. Government-backed options include FHA loans (6.08%) and VA loans (5.88%), often available at lower rates with reduced down payment requirements.
Current Mortgage Rates in Oak Ridge, TN
Below are the current average mortgage rates available in the Oak Ridge area as of April 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% | 6.09% | +0.39% |
| 15-Year Fixed | 5.72% | 5.58% | +0.14% |
| 5/1 ARM | 5.98% | 5.95% | +0.03% |
| FHA | 6.08% | 5.85% | +0.23% |
| VA | 5.88% | 5.65% | +0.23% |
| Jumbo | 6.68% | 6.25% | +0.43% |
Oak Ridge Housing Market Overview
At $225,000, Oak Ridge offers more affordable housing than most U.S. metros. The local cost of living index is 86 (100 = national average), and the median household income of $48,000 still requires careful budgeting at current rate levels.
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 April 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 0.39% above the national average of 6.09%.
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
📊 Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), weekly national average adjusted for Tennessee regional spread.
- Median home price: $225,000 sourced from Redfin / Zillow real estate listings (2026 data).
- Property tax rate: 0.7% effective rate per Tax Foundation 2026 state property tax data.
- Median household income: $48,000 per US Census Bureau ACS 5-year estimate.
- Calculations: standard amortization formula M = P[r(1+r)^n] / [(1+r)^n − 1], with r = monthly rate, n = 360 months, P = loan amount (80% of home price).
Last updated: April 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.