Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Iowa and New York. Updated for 2026.
Metric
Iowa
New York
Median Home Price
$210K
$430K
Property Tax Rate
1.52%
1.72%
Avg Closing Costs
$2K
$12K
Closing Cost %
1.0%
2.8%
Transfer Tax
0.16%
0.8%
Homeowners Insurance
$1,800/yr
$2,100/yr
First-Time Buyer Program
IFA FirstHome
$2,500 grant
SONYMA Achieving the Dream
Up to $15,000 DPAL
Verdict
Iowa wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $210K and lower overall costs, Iowa offers meaningful savings compared to New York. Both states offer first-time buyer programs — explore the state pages for full details.