Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Indiana and New Jersey. Updated for 2026.
Metric
Indiana
New Jersey
Median Home Price
$240K
$505K
Property Tax Rate
0.84%
2.47%
Avg Closing Costs
$3K
$10K
Closing Cost %
1.1%
2.0%
Transfer Tax
None
1%
Homeowners Insurance
$1,700/yr
$1,500/yr
First-Time Buyer Program
IHCDA Next Home
Up to 6% DPA
NJHMFA DPA Program
Up to $15,000 forgivable
Verdict
Indiana wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $240K and lower overall costs, Indiana offers meaningful savings compared to New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.