Mortgage Rates in Santa Cruz, California — March 2026
Updated March 2026 | Based on Santa Cruz market data and regional lending conditions
Santa Cruz is a growing city in California with a population of 64,608. The current 30-year fixed mortgage rate in Santa Cruz is 6.67%, which is 0.02% above the national average. With a median home price of $684,000 and a 20% down payment of $136,800, homebuyers can expect a monthly principal and interest payment of approximately $3,520.
Current Mortgage Rates in Santa Cruz, CA
Below are the current average mortgage rates available in the Santa Cruz 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Santa Cruz Housing Market Overview
The Santa Cruz housing market is competitive with prices well above the national median. The median household income in Santa Cruz is $82,300, and the cost of living index is 152.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $169,671 to comfortably afford the median-priced home in Santa Cruz, which exceeds the current median household income.
Monthly Payment Breakdown for Santa Cruz
Based on the median home price of $684,000 with 20% down ($136,800), here is what you can expect to pay monthly in Santa Cruz:
15-Year vs. 30-Year Mortgage in Santa Cruz
Choosing a 15-year mortgage in Santa Cruz at 5.92% instead of a 30-year at 6.67% would save you $440,280 in total interest over the life of the loan. However, your monthly payment would be $4,594 instead of $3,520 — an increase of $1,074 per month.
Calculate Your Santa Cruz 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 Santa Cruz
What are the current mortgage rates in Santa Cruz, CA?
As of March 2026, the average 30-year fixed mortgage rate in Santa Cruz, California is 6.67%, while the 15-year fixed rate is 5.92%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Santa Cruz?
Based on the median home price of $684,000 with 20% down, the estimated monthly mortgage payment in Santa Cruz is $3,520 for principal and interest. Including property taxes of $439/month, the total monthly housing cost is approximately $3,959.
What income do I need to buy a home in Santa Cruz?
Using the 28% rule, you would need an annual income of approximately $169,671 to afford the median-priced home in Santa Cruz at $684,000. The median household income in Santa Cruz is $82,300. This means most households would need to either earn above the median or consider homes below $684,000.
Is Santa Cruz a good place to buy a home in 2026?
Santa Cruz has a higher cost of living than average with a cost of living index of 152.1 (national average = 100). The property tax rate in California is 0.77%, which is below the national average. Santa Cruz has a population of 64,608 and offers a balanced lifestyle.
Mortgage Rates in Other California Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Santa Cruz, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.