Mortgage Rates in Alfred, New York — March 2026
Updated March 2026 | Based on Alfred market data and regional lending conditions
Alfred is a smaller New York community of 24,385 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.67% (0.02% above the national average). The median home price of $415,000 translates to roughly $2,682/month with 20% down — requiring an income of about $114,943, which exceeds the local median of $67,000.
Current Mortgage Rates in Alfred, NY
Below are the current average mortgage rates available in the Alfred 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 | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Alfred Housing Market Overview
Housing in Alfred sits near the national average at $415,000. With a median household income of $67,000 and a cost of living index of 120.8, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Alfred
Based on the median home price of $415,000 with 20% down ($83,000), here is what you can expect to pay monthly in Alfred:
15-Year vs. 30-Year Mortgage in Alfred
Choosing a 15-year mortgage in Alfred at 5.93% instead of a 30-year at 6.67% would save you $266,940 in total interest over the life of the loan. However, your monthly payment would be $2,789 instead of $2,136 — an increase of $653 per month.
Calculate Your Alfred 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 Alfred
What are the current mortgage rates in Alfred, NY?
As of March 2026, the average 30-year fixed mortgage rate in Alfred, New York is 6.67%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Alfred?
Based on the median home price of $415,000 with 20% down, the estimated monthly mortgage payment in Alfred is $2,136 for principal and interest. Including property taxes of $546/month, the total monthly housing cost is approximately $2,682.
What income do I need to buy a home in Alfred?
Using the 28% rule, you would need an annual income of approximately $114,943 to afford the median-priced home in Alfred at $415,000. The median household income in Alfred is $67,000. This means most households would need to either earn above the median or consider homes below $415,000.
Is Alfred a good place to buy a home in 2026?
Alfred has a higher cost of living than average with a cost of living index of 120.8 (national average = 100). The property tax rate in New York is 1.58%, which is above the national average. Alfred has a population of 24,385 and offers a balanced lifestyle.
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Alfred, New York area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.