Mortgage Rates in Woonsocket, Rhode Island — March 2026
Updated March 2026 | Based on Woonsocket market data and regional lending conditions
Woonsocket is a growing city in Rhode Island with a population of 43,915. The current 30-year fixed mortgage rate in Woonsocket is 6.67%, which is 0.02% above the national average. With a median home price of $265,000 and a 20% down payment of $53,000, homebuyers can expect a monthly principal and interest payment of approximately $1,364.
Current Mortgage Rates in Woonsocket, RI
Below are the current average mortgage rates available in the Woonsocket 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.17% | 6.15% | +0.02% |
| FHA | 6.27% | 6.25% | +0.02% |
| VA | 6.07% | 6.05% | +0.02% |
| Jumbo | 6.87% | 6.85% | +0.02% |
Woonsocket Housing Market Overview
The Woonsocket housing market offers relatively affordable housing compared to many major cities. The median household income in Woonsocket is $42,250, and the cost of living index is 97.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $73,886 to comfortably afford the median-priced home in Woonsocket, which exceeds the current median household income.
Monthly Payment Breakdown for Woonsocket
Based on the median home price of $265,000 with 20% down ($53,000), here is what you can expect to pay monthly in Woonsocket:
15-Year vs. 30-Year Mortgage in Woonsocket
Choosing a 15-year mortgage in Woonsocket at 5.91% instead of a 30-year at 6.67% would save you $170,820 in total interest over the life of the loan. However, your monthly payment would be $1,779 instead of $1,364 — an increase of $415 per month.
Calculate Your Woonsocket 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 Woonsocket
What are the current mortgage rates in Woonsocket, RI?
As of March 2026, the average 30-year fixed mortgage rate in Woonsocket, Rhode Island is 6.67%, while the 15-year fixed rate is 5.91%. FHA loans average 6.27% and VA loans 6.07%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Woonsocket?
Based on the median home price of $265,000 with 20% down, the estimated monthly mortgage payment in Woonsocket is $1,364 for principal and interest. Including property taxes of $360/month, the total monthly housing cost is approximately $1,724.
What income do I need to buy a home in Woonsocket?
Using the 28% rule, you would need an annual income of approximately $73,886 to afford the median-priced home in Woonsocket at $265,000. The median household income in Woonsocket is $42,250. This means most households would need to either earn above the median or consider homes below $265,000.
Is Woonsocket a good place to buy a home in 2026?
Woonsocket offers a below-average cost of living with a cost of living index of 97.5 (national average = 100). The property tax rate in Rhode Island is 1.63%, which is above the national average. Woonsocket has a population of 43,915 and offers a balanced lifestyle.
Mortgage Rates in Other Rhode Island Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Woonsocket, Rhode Island area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.