Mortgage Rates in Silver City, New Mexico — March 2026
Updated March 2026 | Based on Silver City market data and regional lending conditions
Silver City is a growing city in New Mexico with a population of 9,673. The current 30-year fixed mortgage rate in Silver City is 6.87%, which is 0.22% above the national average. With a median home price of $222,000 and a 20% down payment of $44,400, homebuyers can expect a monthly principal and interest payment of approximately $1,166.
Current Mortgage Rates in Silver City, NM
Below are the current average mortgage rates available in the Silver City 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 | 6.87% | 6.65% | +0.22% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.32% | 6.15% | +0.17% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.12% | 6.85% | +0.27% |
Silver City Housing Market Overview
The Silver City housing market offers relatively affordable housing compared to many major cities. The median household income in Silver City is $52,100, and the cost of living index is 92.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $56,229 to comfortably afford the median-priced home in Silver City, which exceeds the current median household income.
Monthly Payment Breakdown for Silver City
Based on the median home price of $222,000 with 20% down ($44,400), here is what you can expect to pay monthly in Silver City:
15-Year vs. 30-Year Mortgage in Silver City
Choosing a 15-year mortgage in Silver City at 6.09% instead of a 30-year at 6.87% would save you $148,500 in total interest over the life of the loan. However, your monthly payment would be $1,507 instead of $1,166 — an increase of $341 per month.
Calculate Your Silver City 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 Silver City
What are the current mortgage rates in Silver City, NM?
As of March 2026, the average 30-year fixed mortgage rate in Silver City, New Mexico is 6.87%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.22% above the national average of 6.65%.
How much is a monthly mortgage payment in Silver City?
Based on the median home price of $222,000 with 20% down, the estimated monthly mortgage payment in Silver City is $1,166 for principal and interest. Including property taxes of $146/month, the total monthly housing cost is approximately $1,312.
What income do I need to buy a home in Silver City?
Using the 28% rule, you would need an annual income of approximately $56,229 to afford the median-priced home in Silver City at $222,000. The median household income in Silver City is $52,100. This means most households would need to either earn above the median or consider homes below $222,000.
Is Silver City a good place to buy a home in 2026?
Silver City offers a below-average cost of living with a cost of living index of 92.9 (national average = 100). The property tax rate in New Mexico is 0.79%, which is below the national average. Silver City has a population of 9,673 and offers a very affordable lifestyle.
Mortgage Rates in Other New Mexico Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Silver City, New Mexico area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.