Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Iowa and Rhode Island. Updated for 2026.
Metric
Iowa
Rhode Island
Median Home Price
$210K
$425K
Property Tax Rate
1.52%
1.53%
Avg Closing Costs
$2K
$7K
Closing Cost %
1.0%
1.7%
Transfer Tax
0.16%
0.46%
Homeowners Insurance
$1,800/yr
$2,200/yr
First-Time Buyer Program
IFA FirstHome
$2,500 grant
RIHousing First Homes
10K DPA forgivable
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 Rhode Island. Both states offer first-time buyer programs — explore the state pages for full details.