Mortgage Rates in University Place, Washington — March 2026
Updated March 2026 | Based on University Place market data and regional lending conditions
University Place is a growing city in Washington with a population of 34,110. The current 30-year fixed mortgage rate in University Place is 6.78%, which is 0.13% above the national average. With a median home price of $519,000 and a 20% down payment of $103,800, homebuyers can expect a monthly principal and interest payment of approximately $2,701.
Current Mortgage Rates in University Place, WA
Below are the current average mortgage rates available in the University Place 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 | 6.78% | 6.65% | +0.13% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.27% | 6.15% | +0.12% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.03% | 6.85% | +0.18% |
University Place Housing Market Overview
The University Place housing market is competitive with prices well above the national median. The median household income in University Place is $70,700, and the cost of living index is 113.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $134,100 to comfortably afford the median-priced home in University Place, which exceeds the current median household income.
Monthly Payment Breakdown for University Place
Based on the median home price of $519,000 with 20% down ($103,800), here is what you can expect to pay monthly in University Place:
15-Year vs. 30-Year Mortgage in University Place
Choosing a 15-year mortgage in University Place at 6.01% instead of a 30-year at 6.78% would save you $341,280 in total interest over the life of the loan. However, your monthly payment would be $3,506 instead of $2,701 — an increase of $805 per month.
Calculate Your University Place 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 University Place
What are the current mortgage rates in University Place, WA?
As of March 2026, the average 30-year fixed mortgage rate in University Place, Washington is 6.78%, while the 15-year fixed rate is 6.01%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.13% above the national average of 6.65%.
How much is a monthly mortgage payment in University Place?
Based on the median home price of $519,000 with 20% down, the estimated monthly mortgage payment in University Place is $2,701 for principal and interest. Including property taxes of $428/month, the total monthly housing cost is approximately $3,129.
What income do I need to buy a home in University Place?
Using the 28% rule, you would need an annual income of approximately $134,100 to afford the median-priced home in University Place at $519,000. The median household income in University Place is $70,700. This means most households would need to either earn above the median or consider homes below $519,000.
Is University Place a good place to buy a home in 2026?
University Place has a moderate cost of living with a cost of living index of 113.2 (national average = 100). The property tax rate in Washington is 0.99%, which is near the national average. University Place has a population of 34,110 and offers a balanced lifestyle.
Mortgage Rates in Other Washington Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the University Place, Washington area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.