Mortgage Rates in Winona, Minnesota — March 2026
Updated March 2026 | Based on Winona market data and regional lending conditions
Winona is a growing city in Minnesota with a population of 26,367. The current 30-year fixed mortgage rate in Winona is 6.75%, which is 0.1% above the national average. With a median home price of $185,000 and a 20% down payment of $37,000, homebuyers can expect a monthly principal and interest payment of approximately $960.
Current Mortgage Rates in Winona, MN
Below are the current average mortgage rates available in the Winona 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 | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.35% | 6.25% | +0.1% |
| VA | 6.15% | 6.05% | +0.1% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Winona Housing Market Overview
The Winona housing market offers relatively affordable housing compared to many major cities. The median household income in Winona is $38,000, and the cost of living index is 87 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $48,000 to comfortably afford the median-priced home in Winona, which exceeds the current median household income.
Monthly Payment Breakdown for Winona
Based on the median home price of $185,000 with 20% down ($37,000), here is what you can expect to pay monthly in Winona:
15-Year vs. 30-Year Mortgage in Winona
Choosing a 15-year mortgage in Winona at 5.99% instead of a 30-year at 6.75% would save you $120,960 in total interest over the life of the loan. However, your monthly payment would be $1,248 instead of $960 — an increase of $288 per month.
Calculate Your Winona 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 Winona
What are the current mortgage rates in Winona, MN?
As of March 2026, the average 30-year fixed mortgage rate in Winona, Minnesota is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.35% and VA loans 6.15%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Winona?
Based on the median home price of $185,000 with 20% down, the estimated monthly mortgage payment in Winona is $960 for principal and interest. Including property taxes of $160/month, the total monthly housing cost is approximately $1,120.
What income do I need to buy a home in Winona?
Using the 28% rule, you would need an annual income of approximately $48,000 to afford the median-priced home in Winona at $185,000. The median household income in Winona is $38,000. This means most households would need to either earn above the median or consider homes below $185,000.
Is Winona a good place to buy a home in 2026?
Winona offers a below-average cost of living with a cost of living index of 87 (national average = 100). The property tax rate in Minnesota is 1.04%, which is near the national average. Winona has a population of 26,367 and offers a very affordable lifestyle.
Mortgage Rates in Other Minnesota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Winona, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.