Mortgage Rates in Senatobia, Mississippi — March 2026
Updated March 2026 | Based on Senatobia market data and regional lending conditions
Senatobia is a smaller Mississippi community of 26,196 where home prices remain well below the national median, making homeownership more attainable. The current 30-year fixed rate here is 6.64% (0.01% below the national average). At a median home price of $127,500, the estimated $732/month payment (with 20% down) is affordable on the local median income of $48,000.
Current Mortgage Rates in Senatobia, MS
Below are the current average mortgage rates available in the Senatobia 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 | 6.64% | 6.65% | -0.01% |
| 15-Year Fixed | 5.91% | 5.89% | +0.02% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.45% | 6.25% | +0.2% |
| VA | 6.2% | 6.05% | +0.15% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Senatobia Housing Market Overview
Senatobia is one of the more affordable housing markets, with a median home price of just $127,500 — significantly below the national median. Combined with a property tax rate of 0.73%, the total monthly housing cost of $732 is within reach for many local households earning the median $48,000.
Monthly Payment Breakdown for Senatobia
Based on the median home price of $127,500 with 20% down ($25,500), here is what you can expect to pay monthly in Senatobia:
15-Year vs. 30-Year Mortgage in Senatobia
Choosing a 15-year mortgage in Senatobia at 5.91% instead of a 30-year at 6.64% would save you $81,360 in total interest over the life of the loan. However, your monthly payment would be $856 instead of $654 — an increase of $202 per month.
Calculate Your Senatobia 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 Senatobia
What are the current mortgage rates in Senatobia, MS?
As of March 2026, the average 30-year fixed mortgage rate in Senatobia, Mississippi is 6.64%, while the 15-year fixed rate is 5.91%. FHA loans average 6.45% and VA loans 6.2%. These rates are 0.01% below the national average of 6.65%.
How much is a monthly mortgage payment in Senatobia?
Based on the median home price of $127,500 with 20% down, the estimated monthly mortgage payment in Senatobia is $654 for principal and interest. Including property taxes of $78/month, the total monthly housing cost is approximately $732.
What income do I need to buy a home in Senatobia?
Using the 28% rule, you would need an annual income of approximately $31,371 to afford the median-priced home in Senatobia at $127,500. The median household income in Senatobia is $48,000. The median income is currently sufficient to meet this threshold.
Is Senatobia a good place to buy a home in 2026?
Senatobia offers a below-average cost of living with a cost of living index of 85 (national average = 100). The property tax rate in Mississippi is 0.73%, which is below the national average. Senatobia has a population of 26,196 and offers a very affordable lifestyle.
Mortgage Rates in Other Mississippi Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Senatobia, Mississippi area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.