Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Indiana and New York. Updated for 2026.
Metric
Indiana
New York
Median Home Price
$240K
$430K
Property Tax Rate
0.84%
1.72%
Avg Closing Costs
$3K
$12K
Closing Cost %
1.1%
2.8%
Transfer Tax
None
0.8%
Homeowners Insurance
$1,700/yr
$2,100/yr
First-Time Buyer Program
IHCDA Next Home
Up to 6% DPA
SONYMA Achieving the Dream
Up to $15,000 DPAL
Verdict
Indiana 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, Indiana offers meaningful savings compared to New York. Both states offer first-time buyer programs — explore the state pages for full details.