Mortgage Rates in Rantoul, Illinois — March 2026
Updated March 2026 | Based on Rantoul market data and regional lending conditions
Rantoul is a growing city in Illinois with a population of 12,941. The current 30-year fixed mortgage rate in Rantoul is 6.79%, which is 0.14% above the national average. With a median home price of $211,000 and a 20% down payment of $42,200, homebuyers can expect a monthly principal and interest payment of approximately $1,099.
Current Mortgage Rates in Rantoul, IL
Below are the current average mortgage rates available in the Rantoul 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 | 6.79% | 6.65% | +0.14% |
| 15-Year Fixed | 6.02% | 5.89% | +0.13% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.52% | 6.25% | +0.27% |
| VA | 6.27% | 6.05% | +0.22% |
| Jumbo | 7.04% | 6.85% | +0.19% |
Rantoul Housing Market Overview
The Rantoul housing market offers relatively affordable housing compared to many major cities. The median household income in Rantoul is $68,100, and the cost of living index is 93.3 (national average = 100). Based on the 28% affordability rule, the median income in Rantoul is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Rantoul
Based on the median home price of $211,000 with 20% down ($42,200), here is what you can expect to pay monthly in Rantoul:
15-Year vs. 30-Year Mortgage in Rantoul
Choosing a 15-year mortgage in Rantoul at 6.02% instead of a 30-year at 6.79% would save you $138,960 in total interest over the life of the loan. However, your monthly payment would be $1,426 instead of $1,099 — an increase of $327 per month.
Calculate Your Rantoul 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 Rantoul
What are the current mortgage rates in Rantoul, IL?
As of March 2026, the average 30-year fixed mortgage rate in Rantoul, Illinois is 6.79%, while the 15-year fixed rate is 6.02%. FHA loans average 6.52% and VA loans 6.27%. These rates are 0.14% above the national average of 6.65%.
How much is a monthly mortgage payment in Rantoul?
Based on the median home price of $211,000 with 20% down, the estimated monthly mortgage payment in Rantoul is $1,099 for principal and interest. Including property taxes of $341/month, the total monthly housing cost is approximately $1,440.
What income do I need to buy a home in Rantoul?
Using the 28% rule, you would need an annual income of approximately $61,714 to afford the median-priced home in Rantoul at $211,000. The median household income in Rantoul is $68,100. The median income is currently sufficient to meet this threshold.
Is Rantoul a good place to buy a home in 2026?
Rantoul offers a below-average cost of living with a cost of living index of 93.3 (national average = 100). The property tax rate in Illinois is 1.94%, which is above the national average. Rantoul has a population of 12,941 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Rantoul, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.