Mortgage Rates in Plymouth, Minnesota — March 2026
Updated March 2026 | Based on Plymouth market data and regional lending conditions
Plymouth is a growing city in Minnesota with a population of 81,026. The current 30-year fixed mortgage rate in Plymouth is 6.74%, which is 0.09% above the national average. With a median home price of $319,000 and a 20% down payment of $63,800, homebuyers can expect a monthly principal and interest payment of approximately $1,654.
Current Mortgage Rates in Plymouth, MN
Below are the current average mortgage rates available in the Plymouth 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 | 6.74% | 6.65% | +0.09% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 6.99% | 6.85% | +0.14% |
Plymouth Housing Market Overview
The Plymouth housing market reflects moderate demand with prices near the national average. The median household income in Plymouth is $75,000, and the cost of living index is 107.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $84,343 to comfortably afford the median-priced home in Plymouth, which exceeds the current median household income.
Monthly Payment Breakdown for Plymouth
Based on the median home price of $319,000 with 20% down ($63,800), here is what you can expect to pay monthly in Plymouth:
15-Year vs. 30-Year Mortgage in Plymouth
Choosing a 15-year mortgage in Plymouth at 5.98% instead of a 30-year at 6.74% would save you $208,260 in total interest over the life of the loan. However, your monthly payment would be $2,151 instead of $1,654 — an increase of $497 per month.
Calculate Your Plymouth 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 Plymouth
What are the current mortgage rates in Plymouth, MN?
As of March 2026, the average 30-year fixed mortgage rate in Plymouth, Minnesota is 6.74%, while the 15-year fixed rate is 5.98%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.09% above the national average of 6.65%.
How much is a monthly mortgage payment in Plymouth?
Based on the median home price of $319,000 with 20% down, the estimated monthly mortgage payment in Plymouth is $1,654 for principal and interest. Including property taxes of $314/month, the total monthly housing cost is approximately $1,968.
What income do I need to buy a home in Plymouth?
Using the 28% rule, you would need an annual income of approximately $84,343 to afford the median-priced home in Plymouth at $319,000. The median household income in Plymouth is $75,000. This means most households would need to either earn above the median or consider homes below $319,000.
Is Plymouth a good place to buy a home in 2026?
Plymouth has a moderate cost of living with a cost of living index of 107.3 (national average = 100). The property tax rate in Minnesota is 1.18%, which is near the national average. Plymouth has a population of 81,026 and offers a balanced lifestyle.
Mortgage Rates in Other Minnesota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Plymouth, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.