Compare mortgage rates and closing costs for leading lenders in Idaho. Review free, personalized mortgage rates for Idaho based on your specifc loan amount, program and other factors. Easily compare APRs, fees and monthly payments to find the lender offering the best mortgage terms.
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September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Idaho is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
The median home value for Idaho is $230,491
The median household income for Idaho is $53,049
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Idaho is $42,763
The home price you can afford to buy based on household income in Idaho is 124% of the median home value which means housing prices are expensive. Idaho ranks 36 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in Idaho is expensive
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
FREEandCLEAR Housing Affordability Index