Mortgage Rates in Roanoke, Texas — March 2026
Updated March 2026 | Based on Roanoke market data and regional lending conditions
Roanoke is a growing city in Texas with a population of 10,230. The current 30-year fixed mortgage rate in Roanoke is 6.6%, which is 0.05% below the national average. With a median home price of $223,000 and a 20% down payment of $44,600, homebuyers can expect a monthly principal and interest payment of approximately $1,139.
Current Mortgage Rates in Roanoke, TX
Below are the current average mortgage rates available in the Roanoke 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 | 6.6% | 6.65% | -0.05% |
| 15-Year Fixed | 5.87% | 5.89% | -0.02% |
| 5/1 ARM | 6.16% | 6.15% | +0.01% |
| FHA | 6.43% | 6.25% | +0.18% |
| VA | 6.18% | 6.05% | +0.13% |
| Jumbo | 6.85% | 6.85% | 0% |
Roanoke Housing Market Overview
The Roanoke housing market offers relatively affordable housing compared to many major cities. The median household income in Roanoke is $55,700, and the cost of living index is 85.8 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,271 to comfortably afford the median-priced home in Roanoke, which exceeds the current median household income.
Monthly Payment Breakdown for Roanoke
Based on the median home price of $223,000 with 20% down ($44,600), here is what you can expect to pay monthly in Roanoke:
15-Year vs. 30-Year Mortgage in Roanoke
Choosing a 15-year mortgage in Roanoke at 5.87% instead of a 30-year at 6.6% would save you $141,300 in total interest over the life of the loan. However, your monthly payment would be $1,493 instead of $1,139 — an increase of $354 per month.
Calculate Your Roanoke 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 Roanoke
What are the current mortgage rates in Roanoke, TX?
As of March 2026, the average 30-year fixed mortgage rate in Roanoke, Texas is 6.6%, while the 15-year fixed rate is 5.87%. FHA loans average 6.43% and VA loans 6.18%. These rates are 0.05% below the national average of 6.65%.
How much is a monthly mortgage payment in Roanoke?
Based on the median home price of $223,000 with 20% down, the estimated monthly mortgage payment in Roanoke is $1,139 for principal and interest. Including property taxes of $314/month, the total monthly housing cost is approximately $1,453.
What income do I need to buy a home in Roanoke?
Using the 28% rule, you would need an annual income of approximately $62,271 to afford the median-priced home in Roanoke at $223,000. The median household income in Roanoke is $55,700. This means most households would need to either earn above the median or consider homes below $223,000.
Is Roanoke a good place to buy a home in 2026?
Roanoke offers a below-average cost of living with a cost of living index of 85.8 (national average = 100). The property tax rate in Texas is 1.69%, which is above the national average. Roanoke has a population of 10,230 and offers a very affordable 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 Roanoke, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.