Mortgage Rates in Berea, Kentucky — March 2026
Updated March 2026 | Based on Berea market data and regional lending conditions
Berea is a growing city in Kentucky with a population of 16,739. The current 30-year fixed mortgage rate in Berea is 6.7%, which is 0.05% above the national average. With a median home price of $156,000 and a 20% down payment of $31,200, homebuyers can expect a monthly principal and interest payment of approximately $805.
Current Mortgage Rates in Berea, KY
Below are the current average mortgage rates available in the Berea 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 | 6.7% | 6.65% | +0.05% |
| 15-Year Fixed | 5.95% | 5.89% | +0.06% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.47% | 6.25% | +0.22% |
| VA | 6.22% | 6.05% | +0.17% |
| Jumbo | 6.95% | 6.85% | +0.1% |
Berea Housing Market Overview
The Berea housing market offers relatively affordable housing compared to many major cities. The median household income in Berea is $53,100, and the cost of living index is 89.1 (national average = 100). Based on the 28% affordability rule, the median income in Berea is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Berea
Based on the median home price of $156,000 with 20% down ($31,200), here is what you can expect to pay monthly in Berea:
15-Year vs. 30-Year Mortgage in Berea
Choosing a 15-year mortgage in Berea at 5.95% instead of a 30-year at 6.7% would save you $100,800 in total interest over the life of the loan. However, your monthly payment would be $1,050 instead of $805 — an increase of $245 per month.
Calculate Your Berea 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 Berea
What are the current mortgage rates in Berea, KY?
As of March 2026, the average 30-year fixed mortgage rate in Berea, Kentucky is 6.7%, while the 15-year fixed rate is 5.95%. FHA loans average 6.47% and VA loans 6.22%. These rates are 0.05% above the national average of 6.65%.
How much is a monthly mortgage payment in Berea?
Based on the median home price of $156,000 with 20% down, the estimated monthly mortgage payment in Berea is $805 for principal and interest. Including property taxes of $107/month, the total monthly housing cost is approximately $912.
What income do I need to buy a home in Berea?
Using the 28% rule, you would need an annual income of approximately $39,086 to afford the median-priced home in Berea at $156,000. The median household income in Berea is $53,100. The median income is currently sufficient to meet this threshold.
Is Berea a good place to buy a home in 2026?
Berea offers a below-average cost of living with a cost of living index of 89.1 (national average = 100). The property tax rate in Kentucky is 0.82%, which is near the national average. Berea has a population of 16,739 and offers a very affordable lifestyle.
Mortgage Rates in Other Kentucky Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Berea, Kentucky area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.