Mortgage Rates in Clarksdale, Mississippi — March 2026
Updated March 2026 | Based on Clarksdale market data and regional lending conditions
Clarksdale is a growing city in Mississippi with a population of 15,005. The current 30-year fixed mortgage rate in Clarksdale is 6.71%, which is 0.06% above the national average. With a median home price of $133,000 and a 20% down payment of $26,600, homebuyers can expect a monthly principal and interest payment of approximately $687.
Current Mortgage Rates in Clarksdale, MS
Below are the current average mortgage rates available in the Clarksdale 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 | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.96% | 6.85% | +0.11% |
Clarksdale Housing Market Overview
The Clarksdale housing market offers relatively affordable housing compared to many major cities. The median household income in Clarksdale is $47,300, and the cost of living index is 75.4 (national average = 100). Based on the 28% affordability rule, the median income in Clarksdale is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Clarksdale
Based on the median home price of $133,000 with 20% down ($26,600), here is what you can expect to pay monthly in Clarksdale:
15-Year vs. 30-Year Mortgage in Clarksdale
Choosing a 15-year mortgage in Clarksdale at 5.96% instead of a 30-year at 6.71% would save you $86,040 in total interest over the life of the loan. However, your monthly payment would be $896 instead of $687 — an increase of $209 per month.
Calculate Your Clarksdale 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 Clarksdale
What are the current mortgage rates in Clarksdale, MS?
As of March 2026, the average 30-year fixed mortgage rate in Clarksdale, Mississippi is 6.71%, while the 15-year fixed rate is 5.96%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Clarksdale?
Based on the median home price of $133,000 with 20% down, the estimated monthly mortgage payment in Clarksdale is $687 for principal and interest. Including property taxes of $94/month, the total monthly housing cost is approximately $781.
What income do I need to buy a home in Clarksdale?
Using the 28% rule, you would need an annual income of approximately $33,471 to afford the median-priced home in Clarksdale at $133,000. The median household income in Clarksdale is $47,300. The median income is currently sufficient to meet this threshold.
Is Clarksdale a good place to buy a home in 2026?
Clarksdale offers a below-average cost of living with a cost of living index of 75.4 (national average = 100). The property tax rate in Mississippi is 0.85%, which is near the national average. Clarksdale has a population of 15,005 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Clarksdale, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.