Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Connecticut and Michigan. Updated for 2026.
Metric
Connecticut
Michigan
Median Home Price
$405K
$240K
Property Tax Rate
2.15%
1.54%
Avg Closing Costs
$9K
$4K
Closing Cost %
2.1%
1.5%
Transfer Tax
1.25%
0.86%
Homeowners Insurance
$2,100/yr
$1,800/yr
First-Time Buyer Program
CHFA Homebuyer Mortgage
Up to $20,000 DAP loan
MSHDA DPA
Up to $7,500 DPA
Verdict
Michigan wins 6 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 Connecticut. Both states offer first-time buyer programs — explore the state pages for full details.