Mortgage Rates in Ridgeland, Mississippi — March 2026
Updated March 2026 | Based on Ridgeland market data and regional lending conditions
Ridgeland is a growing city in Mississippi with a population of 24,473. The current 30-year fixed mortgage rate in Ridgeland is 6.83%, which is 0.18% above the national average. With a median home price of $116,000 and a 20% down payment of $23,200, homebuyers can expect a monthly principal and interest payment of approximately $607.
Current Mortgage Rates in Ridgeland, MS
Below are the current average mortgage rates available in the Ridgeland 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 | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.05% | 5.89% | +0.16% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
Ridgeland Housing Market Overview
The Ridgeland housing market offers relatively affordable housing compared to many major cities. The median household income in Ridgeland is $42,700, and the cost of living index is 81.4 (national average = 100). Based on the 28% affordability rule, the median income in Ridgeland is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Ridgeland
Based on the median home price of $116,000 with 20% down ($23,200), here is what you can expect to pay monthly in Ridgeland:
15-Year vs. 30-Year Mortgage in Ridgeland
Choosing a 15-year mortgage in Ridgeland at 6.05% instead of a 30-year at 6.83% would save you $77,040 in total interest over the life of the loan. However, your monthly payment would be $786 instead of $607 — an increase of $179 per month.
Calculate Your Ridgeland 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 Ridgeland
What are the current mortgage rates in Ridgeland, MS?
As of March 2026, the average 30-year fixed mortgage rate in Ridgeland, Mississippi is 6.83%, while the 15-year fixed rate is 6.05%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in Ridgeland?
Based on the median home price of $116,000 with 20% down, the estimated monthly mortgage payment in Ridgeland is $607 for principal and interest. Including property taxes of $79/month, the total monthly housing cost is approximately $686.
What income do I need to buy a home in Ridgeland?
Using the 28% rule, you would need an annual income of approximately $29,400 to afford the median-priced home in Ridgeland at $116,000. The median household income in Ridgeland is $42,700. The median income is currently sufficient to meet this threshold.
Is Ridgeland a good place to buy a home in 2026?
Ridgeland offers a below-average cost of living with a cost of living index of 81.4 (national average = 100). The property tax rate in Mississippi is 0.82%, which is near the national average. Ridgeland has a population of 24,473 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Ridgeland, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.