Mortgage Rates in Stillwater, Minnesota — March 2026
Updated March 2026 | Based on Stillwater market data and regional lending conditions
Stillwater is a growing city in Minnesota with a population of 20,059. The current 30-year fixed mortgage rate in Stillwater is 6.71%, which is 0.06% above the national average. With a median home price of $290,000 and a 20% down payment of $58,000, homebuyers can expect a monthly principal and interest payment of approximately $1,499.
Current Mortgage Rates in Stillwater, MN
Below are the current average mortgage rates available in the Stillwater 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 | 6.71% | 6.65% | +0.06% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.48% | 6.25% | +0.23% |
| VA | 6.23% | 6.05% | +0.18% |
| Jumbo | 6.96% | 6.85% | +0.11% |
Stillwater Housing Market Overview
The Stillwater housing market offers relatively affordable housing compared to many major cities. The median household income in Stillwater is $66,200, and the cost of living index is 92.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $75,729 to comfortably afford the median-priced home in Stillwater, which exceeds the current median household income.
Monthly Payment Breakdown for Stillwater
Based on the median home price of $290,000 with 20% down ($58,000), here is what you can expect to pay monthly in Stillwater:
15-Year vs. 30-Year Mortgage in Stillwater
Choosing a 15-year mortgage in Stillwater at 5.96% instead of a 30-year at 6.71% would save you $188,100 in total interest over the life of the loan. However, your monthly payment would be $1,953 instead of $1,499 — an increase of $454 per month.
Calculate Your Stillwater 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 Stillwater
What are the current mortgage rates in Stillwater, MN?
As of March 2026, the average 30-year fixed mortgage rate in Stillwater, Minnesota is 6.71%, while the 15-year fixed rate is 5.96%. FHA loans average 6.48% and VA loans 6.23%. These rates are 0.06% above the national average of 6.65%.
How much is a monthly mortgage payment in Stillwater?
Based on the median home price of $290,000 with 20% down, the estimated monthly mortgage payment in Stillwater is $1,499 for principal and interest. Including property taxes of $268/month, the total monthly housing cost is approximately $1,767.
What income do I need to buy a home in Stillwater?
Using the 28% rule, you would need an annual income of approximately $75,729 to afford the median-priced home in Stillwater at $290,000. The median household income in Stillwater is $66,200. This means most households would need to either earn above the median or consider homes below $290,000.
Is Stillwater a good place to buy a home in 2026?
Stillwater offers a below-average cost of living with a cost of living index of 92.1 (national average = 100). The property tax rate in Minnesota is 1.11%, which is near the national average. Stillwater has a population of 20,059 and offers a very affordable lifestyle.
Mortgage Rates in Other Minnesota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Stillwater, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.