Mortgage Rates in Shaker Heights, Ohio — March 2026
Updated March 2026 | Based on Shaker Heights market data and regional lending conditions
Shaker Heights is a growing city in Ohio with a population of 27,537. The current 30-year fixed mortgage rate in Shaker Heights is 6.64%, which is 0.01% below the national average. With a median home price of $159,000 and a 20% down payment of $31,800, homebuyers can expect a monthly principal and interest payment of approximately $816.
Current Mortgage Rates in Shaker Heights, OH
Below are the current average mortgage rates available in the Shaker Heights 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Shaker Heights Housing Market Overview
The Shaker Heights housing market offers relatively affordable housing compared to many major cities. The median household income in Shaker Heights is $52,700, and the cost of living index is 83.1 (national average = 100). Based on the 28% affordability rule, the median income in Shaker Heights is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Shaker Heights
Based on the median home price of $159,000 with 20% down ($31,800), here is what you can expect to pay monthly in Shaker Heights:
15-Year vs. 30-Year Mortgage in Shaker Heights
Choosing a 15-year mortgage in Shaker Heights at 5.9% instead of a 30-year at 6.64% would save you $101,700 in total interest over the life of the loan. However, your monthly payment would be $1,067 instead of $816 — an increase of $251 per month.
Calculate Your Shaker Heights 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 Shaker Heights
What are the current mortgage rates in Shaker Heights, OH?
As of March 2026, the average 30-year fixed mortgage rate in Shaker Heights, Ohio is 6.64%, while the 15-year fixed rate is 5.9%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Shaker Heights?
Based on the median home price of $159,000 with 20% down, the estimated monthly mortgage payment in Shaker Heights is $816 for principal and interest. Including property taxes of $205/month, the total monthly housing cost is approximately $1,021.
What income do I need to buy a home in Shaker Heights?
Using the 28% rule, you would need an annual income of approximately $43,757 to afford the median-priced home in Shaker Heights at $159,000. The median household income in Shaker Heights is $52,700. The median income is currently sufficient to meet this threshold.
Is Shaker Heights a good place to buy a home in 2026?
Shaker Heights offers a below-average cost of living with a cost of living index of 83.1 (national average = 100). The property tax rate in Ohio is 1.55%, which is above the national average. Shaker Heights has a population of 27,537 and offers a very affordable lifestyle.
Mortgage Rates in Other Ohio Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Shaker Heights, Ohio area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.