Mortgage Rates in Colonial Heights, Virginia — March 2026
Updated March 2026 | Based on Colonial Heights market data and regional lending conditions
Colonial Heights is a growing city in Virginia with a population of 17,411. The current 30-year fixed mortgage rate in Colonial Heights is 6.78%, which is 0.13% above the national average. With a median home price of $352,000 and a 20% down payment of $70,400, homebuyers can expect a monthly principal and interest payment of approximately $1,832.
Current Mortgage Rates in Colonial Heights, VA
Below are the current average mortgage rates available in the Colonial Heights 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% |
Colonial Heights Housing Market Overview
The Colonial Heights housing market reflects moderate demand with prices near the national average. The median household income in Colonial Heights is $67,300, and the cost of living index is 106.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $88,200 to comfortably afford the median-priced home in Colonial Heights, which exceeds the current median household income.
Monthly Payment Breakdown for Colonial Heights
Based on the median home price of $352,000 with 20% down ($70,400), here is what you can expect to pay monthly in Colonial Heights:
15-Year vs. 30-Year Mortgage in Colonial Heights
Choosing a 15-year mortgage in Colonial Heights at 6.02% instead of a 30-year at 6.78% would save you $231,300 in total interest over the life of the loan. However, your monthly payment would be $2,379 instead of $1,832 — an increase of $547 per month.
Calculate Your Colonial Heights 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 Colonial Heights
What are the current mortgage rates in Colonial Heights, VA?
As of March 2026, the average 30-year fixed mortgage rate in Colonial Heights, Virginia 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 Colonial Heights?
Based on the median home price of $352,000 with 20% down, the estimated monthly mortgage payment in Colonial Heights is $1,832 for principal and interest. Including property taxes of $226/month, the total monthly housing cost is approximately $2,058.
What income do I need to buy a home in Colonial Heights?
Using the 28% rule, you would need an annual income of approximately $88,200 to afford the median-priced home in Colonial Heights at $352,000. The median household income in Colonial Heights is $67,300. This means most households would need to either earn above the median or consider homes below $352,000.
Is Colonial Heights a good place to buy a home in 2026?
Colonial Heights has a moderate cost of living with a cost of living index of 106.2 (national average = 100). The property tax rate in Virginia is 0.77%, which is below the national average. Colonial Heights has a population of 17,411 and offers a balanced lifestyle.
Mortgage Rates in Other Virginia Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Colonial Heights, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.