Mortgage Rates in Glen Allen, Virginia — March 2026
Updated March 2026 | Based on Glen Allen market data and regional lending conditions
Glen Allen is a growing city in Virginia with a population of 16,137. The current 30-year fixed mortgage rate in Glen Allen is 6.64%, which is 0.01% below the national average. With a median home price of $332,000 and a 20% down payment of $66,400, homebuyers can expect a monthly principal and interest payment of approximately $1,703.
Current Mortgage Rates in Glen Allen, VA
Below are the current average mortgage rates available in the Glen Allen 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.9% | 5.89% | +0.01% |
| 5/1 ARM | 6.18% | 6.15% | +0.03% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Glen Allen Housing Market Overview
The Glen Allen housing market reflects moderate demand with prices near the national average. The median household income in Glen Allen is $77,500, and the cost of living index is 97 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $82,929 to comfortably afford the median-priced home in Glen Allen, which exceeds the current median household income.
Monthly Payment Breakdown for Glen Allen
Based on the median home price of $332,000 with 20% down ($66,400), here is what you can expect to pay monthly in Glen Allen:
15-Year vs. 30-Year Mortgage in Glen Allen
Choosing a 15-year mortgage in Glen Allen at 5.9% instead of a 30-year at 6.64% would save you $212,220 in total interest over the life of the loan. However, your monthly payment would be $2,227 instead of $1,703 — an increase of $524 per month.
Calculate Your Glen Allen Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Glen Allen
What are the current mortgage rates in Glen Allen, VA?
As of March 2026, the average 30-year fixed mortgage rate in Glen Allen, Virginia is 6.64%, while the 15-year fixed rate is 5.9%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Glen Allen?
Based on the median home price of $332,000 with 20% down, the estimated monthly mortgage payment in Glen Allen is $1,703 for principal and interest. Including property taxes of $232/month, the total monthly housing cost is approximately $1,935.
What income do I need to buy a home in Glen Allen?
Using the 28% rule, you would need an annual income of approximately $82,929 to afford the median-priced home in Glen Allen at $332,000. The median household income in Glen Allen is $77,500. This means most households would need to either earn above the median or consider homes below $332,000.
Is Glen Allen a good place to buy a home in 2026?
Glen Allen offers a below-average cost of living with a cost of living index of 97 (national average = 100). The property tax rate in Virginia is 0.84%, which is near the national average. Glen Allen has a population of 16,137 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 Glen Allen, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.