Mortgage Rates in Solon, Ohio — March 2026
Updated March 2026 | Based on Solon market data and regional lending conditions
Solon is a growing city in Ohio with a population of 23,640. The current 30-year fixed mortgage rate in Solon is 6.8%, which is 0.15% above the national average. With a median home price of $167,000 and a 20% down payment of $33,400, homebuyers can expect a monthly principal and interest payment of approximately $871.
Current Mortgage Rates in Solon, OH
Below are the current average mortgage rates available in the Solon 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 | 6.8% | 6.65% | +0.15% |
| 15-Year Fixed | 6.03% | 5.89% | +0.14% |
| 5/1 ARM | 6.28% | 6.15% | +0.13% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.05% | 6.85% | +0.2% |
Solon Housing Market Overview
The Solon housing market offers relatively affordable housing compared to many major cities. The median household income in Solon is $55,600, and the cost of living index is 80.7 (national average = 100). Based on the 28% affordability rule, the median income in Solon is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Solon
Based on the median home price of $167,000 with 20% down ($33,400), here is what you can expect to pay monthly in Solon:
15-Year vs. 30-Year Mortgage in Solon
Choosing a 15-year mortgage in Solon at 6.03% instead of a 30-year at 6.8% would save you $110,160 in total interest over the life of the loan. However, your monthly payment would be $1,130 instead of $871 — an increase of $259 per month.
Calculate Your Solon 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 Solon
What are the current mortgage rates in Solon, OH?
As of March 2026, the average 30-year fixed mortgage rate in Solon, Ohio is 6.8%, while the 15-year fixed rate is 6.03%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.15% above the national average of 6.65%.
How much is a monthly mortgage payment in Solon?
Based on the median home price of $167,000 with 20% down, the estimated monthly mortgage payment in Solon is $871 for principal and interest. Including property taxes of $225/month, the total monthly housing cost is approximately $1,096.
What income do I need to buy a home in Solon?
Using the 28% rule, you would need an annual income of approximately $46,971 to afford the median-priced home in Solon at $167,000. The median household income in Solon is $55,600. The median income is currently sufficient to meet this threshold.
Is Solon a good place to buy a home in 2026?
Solon offers a below-average cost of living with a cost of living index of 80.7 (national average = 100). The property tax rate in Ohio is 1.62%, which is above the national average. Solon has a population of 23,640 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 Solon, Ohio area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.