Mortgage Rates in West Monroe, Louisiana — March 2026
Updated March 2026 | Based on West Monroe market data and regional lending conditions
West Monroe is a growing city in Louisiana with a population of 12,483. The current 30-year fixed mortgage rate in West Monroe is 6.73%, which is 0.08% above the national average. With a median home price of $181,000 and a 20% down payment of $36,200, homebuyers can expect a monthly principal and interest payment of approximately $937.
Current Mortgage Rates in West Monroe, LA
Below are the current average mortgage rates available in the West Monroe 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 | 6.73% | 6.65% | +0.08% |
| 15-Year Fixed | 5.98% | 5.89% | +0.09% |
| 5/1 ARM | 6.24% | 6.15% | +0.09% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.98% | 6.85% | +0.13% |
West Monroe Housing Market Overview
The West Monroe housing market offers relatively affordable housing compared to many major cities. The median household income in West Monroe is $42,100, and the cost of living index is 82.3 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $43,886 to comfortably afford the median-priced home in West Monroe, which exceeds the current median household income.
Monthly Payment Breakdown for West Monroe
Based on the median home price of $181,000 with 20% down ($36,200), here is what you can expect to pay monthly in West Monroe:
15-Year vs. 30-Year Mortgage in West Monroe
Choosing a 15-year mortgage in West Monroe at 5.98% instead of a 30-year at 6.73% would save you $117,720 in total interest over the life of the loan. However, your monthly payment would be $1,220 instead of $937 — an increase of $283 per month.
Calculate Your West Monroe 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 West Monroe
What are the current mortgage rates in West Monroe, LA?
As of March 2026, the average 30-year fixed mortgage rate in West Monroe, Louisiana is 6.73%, while the 15-year fixed rate is 5.98%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.08% above the national average of 6.65%.
How much is a monthly mortgage payment in West Monroe?
Based on the median home price of $181,000 with 20% down, the estimated monthly mortgage payment in West Monroe is $937 for principal and interest. Including property taxes of $87/month, the total monthly housing cost is approximately $1,024.
What income do I need to buy a home in West Monroe?
Using the 28% rule, you would need an annual income of approximately $43,886 to afford the median-priced home in West Monroe at $181,000. The median household income in West Monroe is $42,100. This means most households would need to either earn above the median or consider homes below $181,000.
Is West Monroe a good place to buy a home in 2026?
West Monroe offers a below-average cost of living with a cost of living index of 82.3 (national average = 100). The property tax rate in Louisiana is 0.58%, which is below the national average. West Monroe has a population of 12,483 and offers a very affordable lifestyle.
Mortgage Rates in Other Louisiana Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the West Monroe, Louisiana area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.