Mortgage Rates in Portland, Tennessee — March 2026
Updated March 2026 | Based on Portland market data and regional lending conditions
Portland is a growing city in Tennessee with a population of 13,862. The current 30-year fixed mortgage rate in Portland is 6.81%, which is 0.16% above the national average. With a median home price of $251,000 and a 20% down payment of $50,200, homebuyers can expect a monthly principal and interest payment of approximately $1,310.
Current Mortgage Rates in Portland, TN
Below are the current average mortgage rates available in the Portland 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 | 6.81% | 6.65% | +0.16% |
| 15-Year Fixed | 6.04% | 5.89% | +0.15% |
| 5/1 ARM | 6.29% | 6.15% | +0.14% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.06% | 6.85% | +0.21% |
Portland Housing Market Overview
The Portland housing market offers relatively affordable housing compared to many major cities. The median household income in Portland is $51,500, and the cost of living index is 85.9 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $61,714 to comfortably afford the median-priced home in Portland, which exceeds the current median household income.
Monthly Payment Breakdown for Portland
Based on the median home price of $251,000 with 20% down ($50,200), here is what you can expect to pay monthly in Portland:
15-Year vs. 30-Year Mortgage in Portland
Choosing a 15-year mortgage in Portland at 6.04% instead of a 30-year at 6.81% would save you $165,780 in total interest over the life of the loan. However, your monthly payment would be $1,699 instead of $1,310 — an increase of $389 per month.
Calculate Your Portland 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 Portland
What are the current mortgage rates in Portland, TN?
As of March 2026, the average 30-year fixed mortgage rate in Portland, Tennessee is 6.81%, while the 15-year fixed rate is 6.04%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.16% above the national average of 6.65%.
How much is a monthly mortgage payment in Portland?
Based on the median home price of $251,000 with 20% down, the estimated monthly mortgage payment in Portland is $1,310 for principal and interest. Including property taxes of $130/month, the total monthly housing cost is approximately $1,440.
What income do I need to buy a home in Portland?
Using the 28% rule, you would need an annual income of approximately $61,714 to afford the median-priced home in Portland at $251,000. The median household income in Portland is $51,500. This means most households would need to either earn above the median or consider homes below $251,000.
Is Portland a good place to buy a home in 2026?
Portland offers a below-average cost of living with a cost of living index of 85.9 (national average = 100). The property tax rate in Tennessee is 0.62%, which is below the national average. Portland has a population of 13,862 and offers a very affordable lifestyle.
Mortgage Rates in Other Tennessee Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Portland, Tennessee area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.