Mortgage Rates in Silver Spring, Maryland — March 2026
Updated March 2026 | Based on Silver Spring market data and regional lending conditions
Silver Spring is a growing city in Maryland with a population of 81,015. The current 30-year fixed mortgage rate in Silver Spring is 6.7%, which is 0.05% above the national average. With a median home price of $475,000 and a 20% down payment of $95,000, homebuyers can expect a monthly principal and interest payment of approximately $2,452.
Current Mortgage Rates in Silver Spring, MD
Below are the current average mortgage rates available in the Silver Spring 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 | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.94% | 5.89% | +0.05% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.3% | 6.25% | +0.05% |
| VA | 6.1% | 6.05% | +0.05% |
| Jumbo | 6.9% | 6.85% | +0.05% |
Silver Spring Housing Market Overview
The Silver Spring housing market reflects moderate demand with prices near the national average. The median household income in Silver Spring is $72,250, and the cost of living index is 118.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $123,257 to comfortably afford the median-priced home in Silver Spring, which exceeds the current median household income.
Monthly Payment Breakdown for Silver Spring
Based on the median home price of $475,000 with 20% down ($95,000), here is what you can expect to pay monthly in Silver Spring:
15-Year vs. 30-Year Mortgage in Silver Spring
Choosing a 15-year mortgage in Silver Spring at 5.94% instead of a 30-year at 6.7% would save you $307,800 in total interest over the life of the loan. However, your monthly payment would be $3,194 instead of $2,452 — an increase of $742 per month.
Calculate Your Silver Spring 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 Spring
What are the current mortgage rates in Silver Spring, MD?
As of March 2026, the average 30-year fixed mortgage rate in Silver Spring, Maryland is 6.7%, while the 15-year fixed rate is 5.94%. FHA loans average 6.3% and VA loans 6.1%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Silver Spring?
Based on the median home price of $475,000 with 20% down, the estimated monthly mortgage payment in Silver Spring is $2,452 for principal and interest. Including property taxes of $424/month, the total monthly housing cost is approximately $2,876.
What income do I need to buy a home in Silver Spring?
Using the 28% rule, you would need an annual income of approximately $123,257 to afford the median-priced home in Silver Spring at $475,000. The median household income in Silver Spring is $72,250. This means most households would need to either earn above the median or consider homes below $475,000.
Is Silver Spring a good place to buy a home in 2026?
Silver Spring has a moderate cost of living with a cost of living index of 118.5 (national average = 100). The property tax rate in Maryland is 1.07%, which is near the national average. Silver Spring has a population of 81,015 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Silver Spring, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.