Mortgage Rates in Torrance, California — March 2026
Updated March 2026 | Based on Torrance market data and regional lending conditions
Torrance is a growing city in California with a population of 143,505. The current 30-year fixed mortgage rate in Torrance is 6.55%, which is 0.1% below the national average. With a median home price of $975,000 and a 20% down payment of $195,000, homebuyers can expect a monthly principal and interest payment of approximately $4,956.
Current Mortgage Rates in Torrance, CA
Below are the current average mortgage rates available in the Torrance 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 | 6.55% | 6.65% | -0.1% |
| 15-Year Fixed | 5.79% | 5.89% | -0.1% |
| 5/1 ARM | 6.05% | 6.15% | -0.1% |
| FHA | 6.15% | 6.25% | -0.1% |
| VA | 5.95% | 6.05% | -0.1% |
| Jumbo | 6.75% | 6.85% | -0.1% |
Torrance Housing Market Overview
The Torrance housing market is competitive with prices well above the national median. The median household income in Torrance is $85,250, and the cost of living index is 155.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $238,886 to comfortably afford the median-priced home in Torrance, which exceeds the current median household income.
Monthly Payment Breakdown for Torrance
Based on the median home price of $975,000 with 20% down ($195,000), here is what you can expect to pay monthly in Torrance:
15-Year vs. 30-Year Mortgage in Torrance
Choosing a 15-year mortgage in Torrance at 5.79% instead of a 30-year at 6.55% would save you $615,240 in total interest over the life of the loan. However, your monthly payment would be $6,494 instead of $4,956 — an increase of $1,538 per month.
Calculate Your Torrance 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 Torrance
What are the current mortgage rates in Torrance, CA?
As of March 2026, the average 30-year fixed mortgage rate in Torrance, California is 6.55%, while the 15-year fixed rate is 5.79%. FHA loans average 6.15% and VA loans 5.95%. These rates are 0.1% below the national average of 6.65%.
How much is a monthly mortgage payment in Torrance?
Based on the median home price of $975,000 with 20% down, the estimated monthly mortgage payment in Torrance is $4,956 for principal and interest. Including property taxes of $618/month, the total monthly housing cost is approximately $5,574.
What income do I need to buy a home in Torrance?
Using the 28% rule, you would need an annual income of approximately $238,886 to afford the median-priced home in Torrance at $975,000. The median household income in Torrance is $85,250. This means most households would need to either earn above the median or consider homes below $975,000.
Is Torrance a good place to buy a home in 2026?
Torrance has a higher cost of living than average with a cost of living index of 155.5 (national average = 100). The property tax rate in California is 0.76%, which is below the national average. Torrance has a population of 143,505 and offers a balanced lifestyle.
Mortgage Rates in Other California Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Torrance, California area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.