Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Arizona and Michigan. Updated for 2026.
Metric
Arizona
Michigan
Median Home Price
$380K
$240K
Property Tax Rate
0.62%
1.54%
Avg Closing Costs
$6K
$4K
Closing Cost %
1.6%
1.5%
Transfer Tax
None
0.86%
Homeowners Insurance
$2,100/yr
$1,800/yr
First-Time Buyer Program
Home Plus AZ
Up to 5% DPA grant
MSHDA DPA
Up to $7,500 DPA
Verdict
Michigan wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $240K and lower overall costs, Michigan offers meaningful savings compared to Arizona. Both states offer first-time buyer programs — explore the state pages for full details.