Mortgage Rates in Zion, Illinois — March 2026
Updated March 2026 | Based on Zion market data and regional lending conditions
Zion is a growing city in Illinois with a population of 24,413. The current 30-year fixed mortgage rate in Zion is 6.63%, which is 0.02% below the national average. With a median home price of $246,000 and a 20% down payment of $49,200, homebuyers can expect a monthly principal and interest payment of approximately $1,261.
Current Mortgage Rates in Zion, IL
Below are the current average mortgage rates available in the Zion 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 | 6.63% | 6.65% | -0.02% |
| 15-Year Fixed | 5.89% | 5.89% | 0% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.44% | 6.25% | +0.19% |
| VA | 6.19% | 6.05% | +0.14% |
| Jumbo | 6.88% | 6.85% | +0.03% |
Zion Housing Market Overview
The Zion housing market offers relatively affordable housing compared to many major cities. The median household income in Zion is $58,400, and the cost of living index is 84.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,300 to comfortably afford the median-priced home in Zion, which exceeds the current median household income.
Monthly Payment Breakdown for Zion
Based on the median home price of $246,000 with 20% down ($49,200), here is what you can expect to pay monthly in Zion:
15-Year vs. 30-Year Mortgage in Zion
Choosing a 15-year mortgage in Zion at 5.89% instead of a 30-year at 6.63% would save you $157,140 in total interest over the life of the loan. However, your monthly payment would be $1,649 instead of $1,261 — an increase of $388 per month.
Calculate Your Zion 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 Zion
What are the current mortgage rates in Zion, IL?
As of March 2026, the average 30-year fixed mortgage rate in Zion, Illinois is 6.63%, while the 15-year fixed rate is 5.89%. FHA loans average 6.44% and VA loans 6.19%. These rates are 0.02% below the national average of 6.65%.
How much is a monthly mortgage payment in Zion?
Based on the median home price of $246,000 with 20% down, the estimated monthly mortgage payment in Zion is $1,261 for principal and interest. Including property taxes of $426/month, the total monthly housing cost is approximately $1,687.
What income do I need to buy a home in Zion?
Using the 28% rule, you would need an annual income of approximately $72,300 to afford the median-priced home in Zion at $246,000. The median household income in Zion is $58,400. This means most households would need to either earn above the median or consider homes below $246,000.
Is Zion a good place to buy a home in 2026?
Zion offers a below-average cost of living with a cost of living index of 84.2 (national average = 100). The property tax rate in Illinois is 2.08%, which is above the national average. Zion has a population of 24,413 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Zion, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.