Mortgage Rates in Palm Springs, Florida — March 2026
Updated March 2026 | Based on Palm Springs market data and regional lending conditions
Palm Springs is a growing city in Florida with a population of 28,220. The current 30-year fixed mortgage rate in Palm Springs is 6.84%, which is 0.19% above the national average. With a median home price of $366,000 and a 20% down payment of $73,200, homebuyers can expect a monthly principal and interest payment of approximately $1,917.
Current Mortgage Rates in Palm Springs, FL
Below are the current average mortgage rates available in the Palm Springs 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 | 6.84% | 6.65% | +0.19% |
| 15-Year Fixed | 6.06% | 5.89% | +0.17% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.09% | 6.85% | +0.24% |
Palm Springs Housing Market Overview
The Palm Springs housing market reflects moderate demand with prices near the national average. The median household income in Palm Springs is $53,100, and the cost of living index is 92.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $92,743 to comfortably afford the median-priced home in Palm Springs, which exceeds the current median household income.
Monthly Payment Breakdown for Palm Springs
Based on the median home price of $366,000 with 20% down ($73,200), here is what you can expect to pay monthly in Palm Springs:
15-Year vs. 30-Year Mortgage in Palm Springs
Choosing a 15-year mortgage in Palm Springs at 6.06% instead of a 30-year at 6.84% would save you $243,720 in total interest over the life of the loan. However, your monthly payment would be $2,480 instead of $1,917 — an increase of $563 per month.
Calculate Your Palm Springs 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 Palm Springs
What are the current mortgage rates in Palm Springs, FL?
As of March 2026, the average 30-year fixed mortgage rate in Palm Springs, Florida is 6.84%, while the 15-year fixed rate is 6.06%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.19% above the national average of 6.65%.
How much is a monthly mortgage payment in Palm Springs?
Based on the median home price of $366,000 with 20% down, the estimated monthly mortgage payment in Palm Springs is $1,917 for principal and interest. Including property taxes of $247/month, the total monthly housing cost is approximately $2,164.
What income do I need to buy a home in Palm Springs?
Using the 28% rule, you would need an annual income of approximately $92,743 to afford the median-priced home in Palm Springs at $366,000. The median household income in Palm Springs is $53,100. This means most households would need to either earn above the median or consider homes below $366,000.
Is Palm Springs a good place to buy a home in 2026?
Palm Springs offers a below-average cost of living with a cost of living index of 92.3 (national average = 100). The property tax rate in Florida is 0.81%, which is near the national average. Palm Springs has a population of 28,220 and offers a very affordable lifestyle.
Mortgage Rates in Other Florida Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Palm Springs, Florida area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.