Mortgage Rates in South Laurel, Maryland — March 2026
Updated March 2026 | Based on South Laurel market data and regional lending conditions
South Laurel is a growing city in Maryland with a population of 27,816. The current 30-year fixed mortgage rate in South Laurel is 6.85%, which is 0.2% above the national average. With a median home price of $361,000 and a 20% down payment of $72,200, homebuyers can expect a monthly principal and interest payment of approximately $1,892.
Current Mortgage Rates in South Laurel, MD
Below are the current average mortgage rates available in the South Laurel 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 | 6.85% | 6.65% | +0.2% |
| 15-Year Fixed | 6.07% | 5.89% | +0.18% |
| 5/1 ARM | 6.31% | 6.15% | +0.16% |
| FHA | 6.55% | 6.25% | +0.3% |
| VA | 6.3% | 6.05% | +0.25% |
| Jumbo | 7.1% | 6.85% | +0.25% |
South Laurel Housing Market Overview
The South Laurel housing market reflects moderate demand with prices near the national average. The median household income in South Laurel is $88,300, and the cost of living index is 118.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $94,371 to comfortably afford the median-priced home in South Laurel, which exceeds the current median household income.
Monthly Payment Breakdown for South Laurel
Based on the median home price of $361,000 with 20% down ($72,200), here is what you can expect to pay monthly in South Laurel:
15-Year vs. 30-Year Mortgage in South Laurel
Choosing a 15-year mortgage in South Laurel at 6.07% instead of a 30-year at 6.85% would save you $240,480 in total interest over the life of the loan. However, your monthly payment would be $2,448 instead of $1,892 — an increase of $556 per month.
Calculate Your South Laurel 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 South Laurel
What are the current mortgage rates in South Laurel, MD?
As of March 2026, the average 30-year fixed mortgage rate in South Laurel, Maryland is 6.85%, while the 15-year fixed rate is 6.07%. FHA loans average 6.55% and VA loans 6.3%. These rates are 0.2% above the national average of 6.65%.
How much is a monthly mortgage payment in South Laurel?
Based on the median home price of $361,000 with 20% down, the estimated monthly mortgage payment in South Laurel is $1,892 for principal and interest. Including property taxes of $310/month, the total monthly housing cost is approximately $2,202.
What income do I need to buy a home in South Laurel?
Using the 28% rule, you would need an annual income of approximately $94,371 to afford the median-priced home in South Laurel at $361,000. The median household income in South Laurel is $88,300. This means most households would need to either earn above the median or consider homes below $361,000.
Is South Laurel a good place to buy a home in 2026?
South Laurel has a moderate cost of living with a cost of living index of 118.5 (national average = 100). The property tax rate in Maryland is 1.03%, which is near the national average. South Laurel has a population of 27,816 and offers a balanced lifestyle.
Mortgage Rates in Other Maryland Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the South Laurel, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.