Mortgage Rates in Chanhassen, Minnesota — March 2026
Updated March 2026 | Based on Chanhassen market data and regional lending conditions
Chanhassen is a growing city in Minnesota with a population of 27,880. The current 30-year fixed mortgage rate in Chanhassen is 6.78%, which is 0.13% above the national average. With a median home price of $302,000 and a 20% down payment of $60,400, homebuyers can expect a monthly principal and interest payment of approximately $1,572.
Current Mortgage Rates in Chanhassen, MN
Below are the current average mortgage rates available in the Chanhassen 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 | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.02% | 5.89% | +0.13% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.03% | 6.85% | +0.18% |
Chanhassen Housing Market Overview
The Chanhassen housing market reflects moderate demand with prices near the national average. The median household income in Chanhassen is $64,900, and the cost of living index is 91.7 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $79,886 to comfortably afford the median-priced home in Chanhassen, which exceeds the current median household income.
Monthly Payment Breakdown for Chanhassen
Based on the median home price of $302,000 with 20% down ($60,400), here is what you can expect to pay monthly in Chanhassen:
15-Year vs. 30-Year Mortgage in Chanhassen
Choosing a 15-year mortgage in Chanhassen at 6.02% instead of a 30-year at 6.78% would save you $198,540 in total interest over the life of the loan. However, your monthly payment would be $2,041 instead of $1,572 — an increase of $469 per month.
Calculate Your Chanhassen 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 Chanhassen
What are the current mortgage rates in Chanhassen, MN?
As of March 2026, the average 30-year fixed mortgage rate in Chanhassen, Minnesota is 6.78%, while the 15-year fixed rate is 6.02%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in Chanhassen?
Based on the median home price of $302,000 with 20% down, the estimated monthly mortgage payment in Chanhassen is $1,572 for principal and interest. Including property taxes of $292/month, the total monthly housing cost is approximately $1,864.
What income do I need to buy a home in Chanhassen?
Using the 28% rule, you would need an annual income of approximately $79,886 to afford the median-priced home in Chanhassen at $302,000. The median household income in Chanhassen is $64,900. This means most households would need to either earn above the median or consider homes below $302,000.
Is Chanhassen a good place to buy a home in 2026?
Chanhassen offers a below-average cost of living with a cost of living index of 91.7 (national average = 100). The property tax rate in Minnesota is 1.16%, which is near the national average. Chanhassen has a population of 27,880 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 Chanhassen, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.