Mortgage Rates in Oak Grove, Missouri — March 2026
Updated March 2026 | Based on Oak Grove market data and regional lending conditions
Oak Grove is a smaller Missouri community of 22,713 where the housing market reflects local economic conditions. The current 30-year fixed rate here is 6.75% (0.1% above the national average). At a median home price of $200,000, the estimated $1,165/month payment (with 20% down) is affordable on the local median income of $58,500.
Current Mortgage Rates in Oak Grove, MO
Below are the current average mortgage rates available in the Oak Grove 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 | 6.75% | 6.65% | +0.1% |
| 15-Year Fixed | 5.99% | 5.89% | +0.1% |
| 5/1 ARM | 6.25% | 6.15% | +0.1% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7% | 6.85% | +0.15% |
Oak Grove Housing Market Overview
At $200,000, Oak Grove offers more affordable housing than most U.S. metros. The local cost of living index is 91.3 (100 = national average), and the median household income of $58,500 provides comfortable purchasing power in this market.
Monthly Payment Breakdown for Oak Grove
Based on the median home price of $200,000 with 20% down ($40,000), here is what you can expect to pay monthly in Oak Grove:
15-Year vs. 30-Year Mortgage in Oak Grove
Choosing a 15-year mortgage in Oak Grove at 5.99% instead of a 30-year at 6.75% would save you $130,860 in total interest over the life of the loan. However, your monthly payment would be $1,349 instead of $1,038 — an increase of $311 per month.
Calculate Your Oak Grove 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 Oak Grove
What are the current mortgage rates in Oak Grove, MO?
As of March 2026, the average 30-year fixed mortgage rate in Oak Grove, Missouri is 6.75%, while the 15-year fixed rate is 5.99%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.1% above the national average of 6.65%.
How much is a monthly mortgage payment in Oak Grove?
Based on the median home price of $200,000 with 20% down, the estimated monthly mortgage payment in Oak Grove is $1,038 for principal and interest. Including property taxes of $127/month, the total monthly housing cost is approximately $1,165.
What income do I need to buy a home in Oak Grove?
Using the 28% rule, you would need an annual income of approximately $49,929 to afford the median-priced home in Oak Grove at $200,000. The median household income in Oak Grove is $58,500. The median income is currently sufficient to meet this threshold.
Is Oak Grove a good place to buy a home in 2026?
Oak Grove offers a below-average cost of living with a cost of living index of 91.3 (national average = 100). The property tax rate in Missouri is 0.76%, which is below the national average. Oak Grove has a population of 22,713 and offers a very affordable lifestyle.
Mortgage Rates in Other Missouri Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Oak Grove, Missouri area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.