Mortgage Rates in Riverhead, New York — March 2026
Updated March 2026 | Based on Riverhead market data and regional lending conditions
Riverhead is a growing city in New York with a population of 35,845. The current 30-year fixed mortgage rate in Riverhead is 6.72%, which is 0.07% above the national average. With a median home price of $456,000 and a 20% down payment of $91,200, homebuyers can expect a monthly principal and interest payment of approximately $2,359.
Current Mortgage Rates in Riverhead, NY
Below are the current average mortgage rates available in the Riverhead 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% |
Riverhead Housing Market Overview
The Riverhead housing market reflects moderate demand with prices near the national average. The median household income in Riverhead is $76,600, and the cost of living index is 122.4 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $128,957 to comfortably afford the median-priced home in Riverhead, which exceeds the current median household income.
Monthly Payment Breakdown for Riverhead
Based on the median home price of $456,000 with 20% down ($91,200), here is what you can expect to pay monthly in Riverhead:
15-Year vs. 30-Year Mortgage in Riverhead
Choosing a 15-year mortgage in Riverhead at 5.96% instead of a 30-year at 6.72% would save you $296,460 in total interest over the life of the loan. However, your monthly payment would be $3,071 instead of $2,359 — an increase of $712 per month.
Calculate Your Riverhead 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 Riverhead
What are the current mortgage rates in Riverhead, NY?
As of March 2026, the average 30-year fixed mortgage rate in Riverhead, New York 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 Riverhead?
Based on the median home price of $456,000 with 20% down, the estimated monthly mortgage payment in Riverhead is $2,359 for principal and interest. Including property taxes of $650/month, the total monthly housing cost is approximately $3,009.
What income do I need to buy a home in Riverhead?
Using the 28% rule, you would need an annual income of approximately $128,957 to afford the median-priced home in Riverhead at $456,000. The median household income in Riverhead is $76,600. This means most households would need to either earn above the median or consider homes below $456,000.
Is Riverhead a good place to buy a home in 2026?
Riverhead has a higher cost of living than average with a cost of living index of 122.4 (national average = 100). The property tax rate in New York is 1.71%, which is above the national average. Riverhead has a population of 35,845 and offers a balanced lifestyle.
Mortgage Rates in Other New York Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Riverhead, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.