Mortgage Rates in Oakes, North Dakota — March 2026
Updated March 2026 | Based on Oakes market data and regional lending conditions
Oakes is a growing city in North Dakota with a population of 1,755. The current 30-year fixed mortgage rate in Oakes is 6.63%, which is 0.02% below the national average. With a median home price of $178,000 and a 20% down payment of $35,600, homebuyers can expect a monthly principal and interest payment of approximately $912.
Current Mortgage Rates in Oakes, ND
Below are the current average mortgage rates available in the Oakes 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 | 6.63% | 6.65% | -0.02% |
| 15-Year Fixed | 5.89% | 5.89% | 0% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Oakes Housing Market Overview
The Oakes housing market offers relatively affordable housing compared to many major cities. The median household income in Oakes is $63,800, and the cost of living index is 85.8 (national average = 100). Based on the 28% affordability rule, the median income in Oakes is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Oakes
Based on the median home price of $178,000 with 20% down ($35,600), here is what you can expect to pay monthly in Oakes:
15-Year vs. 30-Year Mortgage in Oakes
Choosing a 15-year mortgage in Oakes at 5.89% instead of a 30-year at 6.63% would save you $113,580 in total interest over the life of the loan. However, your monthly payment would be $1,193 instead of $912 — an increase of $281 per month.
Calculate Your Oakes 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 Oakes
What are the current mortgage rates in Oakes, ND?
As of March 2026, the average 30-year fixed mortgage rate in Oakes, North Dakota is 6.63%, while the 15-year fixed rate is 5.89%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.02% below the national average of 6.65%.
How much is a monthly mortgage payment in Oakes?
Based on the median home price of $178,000 with 20% down, the estimated monthly mortgage payment in Oakes is $912 for principal and interest. Including property taxes of $138/month, the total monthly housing cost is approximately $1,050.
What income do I need to buy a home in Oakes?
Using the 28% rule, you would need an annual income of approximately $45,000 to afford the median-priced home in Oakes at $178,000. The median household income in Oakes is $63,800. The median income is currently sufficient to meet this threshold.
Is Oakes a good place to buy a home in 2026?
Oakes offers a below-average cost of living with a cost of living index of 85.8 (national average = 100). The property tax rate in North Dakota is 0.93%, which is near the national average. Oakes has a population of 1,755 and offers a very affordable lifestyle.
Mortgage Rates in Other North Dakota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Oakes, North Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.