Mortgage Rates in Prairie Grove, Arkansas — March 2026
Updated March 2026 | Based on Prairie Grove market data and regional lending conditions
Prairie Grove is a smaller Arkansas community of 23,330 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.67% (0.02% above the national average). At a median home price of $165,000, the estimated $926/month payment (with 20% down) is affordable on the local median income of $46,000.
Current Mortgage Rates in Prairie Grove, AR
Below are the current average mortgage rates available in the Prairie 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 | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.92% | 5.89% | +0.03% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Prairie Grove Housing Market Overview
At $165,000, Prairie Grove offers more affordable housing than most U.S. metros. The local cost of living index is 86.3 (100 = national average), and the median household income of $46,000 provides comfortable purchasing power in this market.
Monthly Payment Breakdown for Prairie Grove
Based on the median home price of $165,000 with 20% down ($33,000), here is what you can expect to pay monthly in Prairie Grove:
15-Year vs. 30-Year Mortgage in Prairie Grove
Choosing a 15-year mortgage in Prairie Grove at 5.92% instead of a 30-year at 6.67% would save you $106,200 in total interest over the life of the loan. However, your monthly payment would be $1,108 instead of $849 — an increase of $259 per month.
Calculate Your Prairie 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 Prairie Grove
What are the current mortgage rates in Prairie Grove, AR?
As of March 2026, the average 30-year fixed mortgage rate in Prairie Grove, Arkansas is 6.67%, while the 15-year fixed rate is 5.92%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Prairie Grove?
Based on the median home price of $165,000 with 20% down, the estimated monthly mortgage payment in Prairie Grove is $849 for principal and interest. Including property taxes of $77/month, the total monthly housing cost is approximately $926.
What income do I need to buy a home in Prairie Grove?
Using the 28% rule, you would need an annual income of approximately $39,686 to afford the median-priced home in Prairie Grove at $165,000. The median household income in Prairie Grove is $46,000. The median income is currently sufficient to meet this threshold.
Is Prairie Grove a good place to buy a home in 2026?
Prairie Grove offers a below-average cost of living with a cost of living index of 86.3 (national average = 100). The property tax rate in Arkansas is 0.56%, which is below the national average. Prairie Grove has a population of 23,330 and offers a very affordable lifestyle.
Mortgage Rates in Other Arkansas Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Prairie Grove, Arkansas area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.