Mortgage Rates in Quincy, Illinois — March 2026
Updated March 2026 | Based on Quincy market data and regional lending conditions
Quincy is a growing city in Illinois with a population of 39,648. The current 30-year fixed mortgage rate in Quincy is 6.41%, which is 0.24% below the national average. With a median home price of $120,000 and a 20% down payment of $24,000, homebuyers can expect a monthly principal and interest payment of approximately $601.
Current Mortgage Rates in Quincy, IL
Below are the current average mortgage rates available in the Quincy 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 | 6.41% | 6.65% | -0.24% |
| 15-Year Fixed | 5.65% | 5.89% | -0.24% |
| 5/1 ARM | 5.91% | 6.15% | -0.24% |
| FHA | 6.01% | 6.25% | -0.24% |
| VA | 5.81% | 6.05% | -0.24% |
| Jumbo | 6.61% | 6.85% | -0.24% |
Quincy Housing Market Overview
The Quincy housing market offers relatively affordable housing compared to many major cities. The median household income in Quincy is $38,000, and the cost of living index is 80 (national average = 100). Based on the 28% affordability rule, the median income in Quincy is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Quincy
Based on the median home price of $120,000 with 20% down ($24,000), here is what you can expect to pay monthly in Quincy:
15-Year vs. 30-Year Mortgage in Quincy
Choosing a 15-year mortgage in Quincy at 5.65% instead of a 30-year at 6.41% would save you $73,800 in total interest over the life of the loan. However, your monthly payment would be $792 instead of $601 — an increase of $191 per month.
Calculate Your Quincy 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 Quincy
What are the current mortgage rates in Quincy, IL?
As of March 2026, the average 30-year fixed mortgage rate in Quincy, Illinois is 6.41%, while the 15-year fixed rate is 5.65%. FHA loans average 6.01% and VA loans 5.81%. These rates are 0.24% below the national average of 6.65%.
How much is a monthly mortgage payment in Quincy?
Based on the median home price of $120,000 with 20% down, the estimated monthly mortgage payment in Quincy is $601 for principal and interest. Including property taxes of $171/month, the total monthly housing cost is approximately $772.
What income do I need to buy a home in Quincy?
Using the 28% rule, you would need an annual income of approximately $33,086 to afford the median-priced home in Quincy at $120,000. The median household income in Quincy is $38,000. The median income is currently sufficient to meet this threshold.
Is Quincy a good place to buy a home in 2026?
Quincy offers a below-average cost of living with a cost of living index of 80 (national average = 100). The property tax rate in Illinois is 1.71%, which is above the national average. Quincy has a population of 39,648 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Quincy, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.