Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Colorado and New Jersey. Updated for 2026.
Metric
Colorado
New Jersey
Median Home Price
$520K
$505K
Property Tax Rate
0.51%
2.47%
Avg Closing Costs
$7K
$10K
Closing Cost %
1.4%
2.0%
Transfer Tax
0.01%
1%
Homeowners Insurance
$3,200/yr
$1,500/yr
First-Time Buyer Program
CHFA Down Payment Assistance
Up to $25,000 second mortgage
NJHMFA DPA Program
Up to $15,000 forgivable
Verdict
Colorado wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, New Jersey has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.