Mortgage Rates in Knox City, Texas — March 2026
Updated March 2026 | Based on Knox City market data and regional lending conditions
Knox City is a smaller Texas community of 25,683 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.66% (0.01% above the national average). The median home price of $320,000 translates to roughly $2,146/month with 20% down — requiring an income of about $91,971, which exceeds the local median of $56,500.
Current Mortgage Rates in Knox City, TX
Below are the current average mortgage rates available in the Knox City 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 | 6.66% | 6.65% | +0.01% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.91% | 6.85% | +0.06% |
Knox City Housing Market Overview
Housing in Knox City sits near the national average at $320,000. With a median household income of $56,500 and a cost of living index of 87, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Knox City
Based on the median home price of $320,000 with 20% down ($64,000), here is what you can expect to pay monthly in Knox City:
15-Year vs. 30-Year Mortgage in Knox City
Choosing a 15-year mortgage in Knox City at 5.91% instead of a 30-year at 6.66% would save you $205,560 in total interest over the life of the loan. However, your monthly payment would be $2,148 instead of $1,645 — an increase of $503 per month.
Calculate Your Knox City 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 Knox City
What are the current mortgage rates in Knox City, TX?
As of March 2026, the average 30-year fixed mortgage rate in Knox City, Texas is 6.66%, while the 15-year fixed rate is 5.91%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% above the national average of 6.65%.
How much is a monthly mortgage payment in Knox City?
Based on the median home price of $320,000 with 20% down, the estimated monthly mortgage payment in Knox City is $1,645 for principal and interest. Including property taxes of $501/month, the total monthly housing cost is approximately $2,146.
What income do I need to buy a home in Knox City?
Using the 28% rule, you would need an annual income of approximately $91,971 to afford the median-priced home in Knox City at $320,000. The median household income in Knox City is $56,500. This means most households would need to either earn above the median or consider homes below $320,000.
Is Knox City a good place to buy a home in 2026?
Knox City offers a below-average cost of living with a cost of living index of 87 (national average = 100). The property tax rate in Texas is 1.88%, which is above the national average. Knox City has a population of 25,683 and offers a very affordable lifestyle.
Mortgage Rates in Other Texas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Knox City, Texas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.