Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Arizona and Minnesota. Updated for 2026.
Metric
Arizona
Minnesota
Median Home Price
$380K
$335K
Property Tax Rate
0.62%
1.12%
Avg Closing Costs
$6K
$5K
Closing Cost %
1.6%
1.4%
Transfer Tax
None
0.33%
Homeowners Insurance
$2,100/yr
$2,100/yr
First-Time Buyer Program
Home Plus AZ
Up to 5% DPA grant
Minnesota Housing Start Up
Up to $18,000 deferred loan
Verdict
Minnesota wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $335K and lower overall costs, Minnesota offers meaningful savings compared to Arizona. Both states offer first-time buyer programs — explore the state pages for full details.