Mortgage Rates in Springfield, Illinois: 2026 Guide
30-year fixed: 6.74%. Median home price: $195,000.
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Current Mortgage Rates in Springfield
| Loan Type | Rate | APR | Monthly Payment* |
|---|---|---|---|
| 30-Year Fixed | 6.74% | 6.820% | $1,011/mo |
| 15-Year Fixed | 6.22% | 6.290% | $1,335/mo |
| 5/1 ARM | 6.12% | 6.470% | $947/mo |
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6.74%
Avg 30yr Rate
$195,000
Median Home Price
114K
Population
2.27%
Property Tax
Median Home Prices in Springfield
The median home price in Springfield is $195,000.
Springfield Market Insights
Springfield offers one of the most affordable housing markets in Illinois, with a median home price well below the state average. The state capital provides stable government employment, and the cost of living is low. The housing market is steady with modest appreciation.
Frequently Asked Questions
What is the average mortgage rate in Springfield?+
The average 30-year fixed rate in Springfield is 6.74%.
How much down payment is needed in Springfield?+
On a median home of $195,000, 20% down is $39,000.
What are property taxes like in Springfield?+
The property tax rate is 2.27%. Annual taxes: $4,427.