Mortgage Rates in El Reno, Oklahoma — March 2026
Updated March 2026 | Based on El Reno market data and regional lending conditions
El Reno is a growing city in Oklahoma with a population of 19,813. The current 30-year fixed mortgage rate in El Reno is 6.88%, which is 0.23% above the national average. With a median home price of $146,000 and a 20% down payment of $29,200, homebuyers can expect a monthly principal and interest payment of approximately $768.
Current Mortgage Rates in El Reno, OK
Below are the current average mortgage rates available in the El Reno 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 | 6.88% | 6.65% | +0.23% |
| 15-Year Fixed | 6.09% | 5.89% | +0.2% |
| 5/1 ARM | 6.33% | 6.15% | +0.18% |
| FHA | 6.56% | 6.25% | +0.31% |
| VA | 6.31% | 6.05% | +0.26% |
| Jumbo | 7.13% | 6.85% | +0.28% |
El Reno Housing Market Overview
The El Reno housing market offers relatively affordable housing compared to many major cities. The median household income in El Reno is $46,300, and the cost of living index is 87 (national average = 100). Based on the 28% affordability rule, the median income in El Reno is sufficient to afford the median-priced home.
Monthly Payment Breakdown for El Reno
Based on the median home price of $146,000 with 20% down ($29,200), here is what you can expect to pay monthly in El Reno:
15-Year vs. 30-Year Mortgage in El Reno
Choosing a 15-year mortgage in El Reno at 6.09% instead of a 30-year at 6.88% would save you $98,100 in total interest over the life of the loan. However, your monthly payment would be $991 instead of $768 — an increase of $223 per month.
Calculate Your El Reno 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 El Reno
What are the current mortgage rates in El Reno, OK?
As of March 2026, the average 30-year fixed mortgage rate in El Reno, Oklahoma is 6.88%, while the 15-year fixed rate is 6.09%. FHA loans average 6.56% and VA loans 6.31%. These rates are 0.23% above the national average of 6.65%.
How much is a monthly mortgage payment in El Reno?
Based on the median home price of $146,000 with 20% down, the estimated monthly mortgage payment in El Reno is $768 for principal and interest. Including property taxes of $102/month, the total monthly housing cost is approximately $870.
What income do I need to buy a home in El Reno?
Using the 28% rule, you would need an annual income of approximately $37,286 to afford the median-priced home in El Reno at $146,000. The median household income in El Reno is $46,300. The median income is currently sufficient to meet this threshold.
Is El Reno a good place to buy a home in 2026?
El Reno offers a below-average cost of living with a cost of living index of 87 (national average = 100). The property tax rate in Oklahoma is 0.84%, which is near the national average. El Reno has a population of 19,813 and offers a very affordable lifestyle.
Mortgage Rates in Other Oklahoma Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the El Reno, Oklahoma area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.