Mortgage Rates in Takoma Park, Maryland — March 2026
Updated March 2026 | Based on Takoma Park market data and regional lending conditions
Takoma Park is a growing city in Maryland with a population of 17,703. The current 30-year fixed mortgage rate in Takoma Park is 6.76%, which is 0.11% above the national average. With a median home price of $305,000 and a 20% down payment of $61,000, homebuyers can expect a monthly principal and interest payment of approximately $1,584.
Current Mortgage Rates in Takoma Park, MD
Below are the current average mortgage rates available in the Takoma Park 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 | 6.76% | 6.65% | +0.11% |
| 15-Year Fixed | 6% | 5.89% | +0.11% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.5% | 6.25% | +0.25% |
| VA | 6.25% | 6.05% | +0.2% |
| Jumbo | 7.01% | 6.85% | +0.16% |
Takoma Park Housing Market Overview
The Takoma Park housing market reflects moderate demand with prices near the national average. The median household income in Takoma Park is $79,900, and the cost of living index is 109.1 (national average = 100). Based on the 28% affordability rule, the median income in Takoma Park is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Takoma Park
Based on the median home price of $305,000 with 20% down ($61,000), here is what you can expect to pay monthly in Takoma Park:
15-Year vs. 30-Year Mortgage in Takoma Park
Choosing a 15-year mortgage in Takoma Park at 6% instead of a 30-year at 6.76% would save you $199,620 in total interest over the life of the loan. However, your monthly payment would be $2,059 instead of $1,584 — an increase of $475 per month.
Calculate Your Takoma Park 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 Takoma Park
What are the current mortgage rates in Takoma Park, MD?
As of March 2026, the average 30-year fixed mortgage rate in Takoma Park, Maryland is 6.76%, while the 15-year fixed rate is 6%. FHA loans average 6.5% and VA loans 6.25%. These rates are 0.11% above the national average of 6.65%.
How much is a monthly mortgage payment in Takoma Park?
Based on the median home price of $305,000 with 20% down, the estimated monthly mortgage payment in Takoma Park is $1,584 for principal and interest. Including property taxes of $280/month, the total monthly housing cost is approximately $1,864.
What income do I need to buy a home in Takoma Park?
Using the 28% rule, you would need an annual income of approximately $79,886 to afford the median-priced home in Takoma Park at $305,000. The median household income in Takoma Park is $79,900. The median income is currently sufficient to meet this threshold.
Is Takoma Park a good place to buy a home in 2026?
Takoma Park has a moderate cost of living with a cost of living index of 109.1 (national average = 100). The property tax rate in Maryland is 1.1%, which is near the national average. Takoma Park has a population of 17,703 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 Takoma Park, Maryland area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.