Mortgage Rates in Phenix City, Alabama — March 2026
Updated March 2026 | Based on Phenix City market data and regional lending conditions
Phenix City is a growing city in Alabama with a population of 38,816. The current 30-year fixed mortgage rate in Phenix City is 6.77%, which is 0.12% above the national average. With a median home price of $175,000 and a 20% down payment of $35,000, homebuyers can expect a monthly principal and interest payment of approximately $910.
Current Mortgage Rates in Phenix City, AL
Below are the current average mortgage rates available in the Phenix City 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 | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.37% | 6.25% | +0.12% |
| VA | 6.17% | 6.05% | +0.12% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Phenix City Housing Market Overview
The Phenix City housing market offers relatively affordable housing compared to many major cities. The median household income in Phenix City is $42,250, and the cost of living index is 82.5 (national average = 100). Based on the 28% affordability rule, the median income in Phenix City is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Phenix City
Based on the median home price of $175,000 with 20% down ($35,000), here is what you can expect to pay monthly in Phenix City:
15-Year vs. 30-Year Mortgage in Phenix City
Choosing a 15-year mortgage in Phenix City at 6.01% instead of a 30-year at 6.77% would save you $114,840 in total interest over the life of the loan. However, your monthly payment would be $1,182 instead of $910 — an increase of $272 per month.
Calculate Your Phenix City 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 Phenix City
What are the current mortgage rates in Phenix City, AL?
As of March 2026, the average 30-year fixed mortgage rate in Phenix City, Alabama is 6.77%, while the 15-year fixed rate is 6.01%. FHA loans average 6.37% and VA loans 6.17%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in Phenix City?
Based on the median home price of $175,000 with 20% down, the estimated monthly mortgage payment in Phenix City is $910 for principal and interest. Including property taxes of $60/month, the total monthly housing cost is approximately $970.
What income do I need to buy a home in Phenix City?
Using the 28% rule, you would need an annual income of approximately $41,571 to afford the median-priced home in Phenix City at $175,000. The median household income in Phenix City is $42,250. The median income is currently sufficient to meet this threshold.
Is Phenix City a good place to buy a home in 2026?
Phenix City offers a below-average cost of living with a cost of living index of 82.5 (national average = 100). The property tax rate in Alabama is 0.41%, which is below the national average. Phenix City has a population of 38,816 and offers a very affordable lifestyle.
Mortgage Rates in Other Alabama Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Phenix City, Alabama area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.