Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Florida and Maryland. Updated for 2026.
Metric
Florida
Maryland
Median Home Price
$395K
$420K
Property Tax Rate
0.86%
1.09%
Avg Closing Costs
$7K
$11K
Closing Cost %
1.8%
2.5%
Transfer Tax
0.7%
1.5%
Homeowners Insurance
$4,200/yr
$1,700/yr
First-Time Buyer Program
Florida Hometown Heroes
Up to 5% as 0% deferred loan
MD Mortgage Program
Up to $25,000 DPA
Verdict
Florida wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $395K and lower overall costs, Florida offers meaningful savings compared to Maryland. Both states offer first-time buyer programs — explore the state pages for full details.