Mortgage Rates in Richardson, Texas — March 2026
Updated March 2026 | Based on Richardson market data and regional lending conditions
Richardson is a growing city in Texas with a population of 121,323. The current 30-year fixed mortgage rate in Richardson is 6.72%, which is 0.07% above the national average. With a median home price of $345,000 and a 20% down payment of $69,000, homebuyers can expect a monthly principal and interest payment of approximately $1,785.
Current Mortgage Rates in Richardson, TX
Below are the current average mortgage rates available in the Richardson 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Richardson Housing Market Overview
The Richardson housing market reflects moderate demand with prices near the national average. The median household income in Richardson is $72,000, and the cost of living index is 101.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $98,700 to comfortably afford the median-priced home in Richardson, which exceeds the current median household income.
Monthly Payment Breakdown for Richardson
Based on the median home price of $345,000 with 20% down ($69,000), here is what you can expect to pay monthly in Richardson:
15-Year vs. 30-Year Mortgage in Richardson
Choosing a 15-year mortgage in Richardson at 5.96% instead of a 30-year at 6.72% would save you $224,460 in total interest over the life of the loan. However, your monthly payment would be $2,323 instead of $1,785 — an increase of $538 per month.
Calculate Your Richardson 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 Richardson
What are the current mortgage rates in Richardson, TX?
As of March 2026, the average 30-year fixed mortgage rate in Richardson, Texas is 6.72%, while the 15-year fixed rate is 5.96%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Richardson?
Based on the median home price of $345,000 with 20% down, the estimated monthly mortgage payment in Richardson is $1,785 for principal and interest. Including property taxes of $518/month, the total monthly housing cost is approximately $2,303.
What income do I need to buy a home in Richardson?
Using the 28% rule, you would need an annual income of approximately $98,700 to afford the median-priced home in Richardson at $345,000. The median household income in Richardson is $72,000. This means most households would need to either earn above the median or consider homes below $345,000.
Is Richardson a good place to buy a home in 2026?
Richardson has a moderate cost of living with a cost of living index of 101.5 (national average = 100). The property tax rate in Texas is 1.8%, which is above the national average. Richardson has a population of 121,323 and offers a balanced lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Richardson, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.