Mortgage Rates in Rock Island, Illinois — March 2026
Updated March 2026 | Based on Rock Island market data and regional lending conditions
Rock Island is a growing city in Illinois with a population of 36,574. The current 30-year fixed mortgage rate in Rock Island is 6.41%, which is 0.24% below the national average. With a median home price of $105,000 and a 20% down payment of $21,000, homebuyers can expect a monthly principal and interest payment of approximately $526.
Current Mortgage Rates in Rock Island, IL
Below are the current average mortgage rates available in the Rock Island 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% |
Rock Island Housing Market Overview
The Rock Island housing market offers relatively affordable housing compared to many major cities. The median household income in Rock Island is $36,000, and the cost of living index is 79 (national average = 100). Based on the 28% affordability rule, the median income in Rock Island is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Rock Island
Based on the median home price of $105,000 with 20% down ($21,000), here is what you can expect to pay monthly in Rock Island:
15-Year vs. 30-Year Mortgage in Rock Island
Choosing a 15-year mortgage in Rock Island at 5.65% instead of a 30-year at 6.41% would save you $64,620 in total interest over the life of the loan. However, your monthly payment would be $693 instead of $526 — an increase of $167 per month.
Calculate Your Rock Island 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 Rock Island
What are the current mortgage rates in Rock Island, IL?
As of March 2026, the average 30-year fixed mortgage rate in Rock Island, 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 Rock Island?
Based on the median home price of $105,000 with 20% down, the estimated monthly mortgage payment in Rock Island is $526 for principal and interest. Including property taxes of $151/month, the total monthly housing cost is approximately $677.
What income do I need to buy a home in Rock Island?
Using the 28% rule, you would need an annual income of approximately $29,014 to afford the median-priced home in Rock Island at $105,000. The median household income in Rock Island is $36,000. The median income is currently sufficient to meet this threshold.
Is Rock Island a good place to buy a home in 2026?
Rock Island offers a below-average cost of living with a cost of living index of 79 (national average = 100). The property tax rate in Illinois is 1.72%, which is above the national average. Rock Island has a population of 36,574 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 Rock Island, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.