Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Kentucky and Michigan. Updated for 2026.
Metric
Kentucky
Michigan
Median Home Price
$210K
$240K
Property Tax Rate
0.83%
1.54%
Avg Closing Costs
$3K
$4K
Closing Cost %
1.4%
1.5%
Transfer Tax
0.1%
0.86%
Homeowners Insurance
$2,400/yr
$1,800/yr
First-Time Buyer Program
KHC Regular DAP
Up to $6,000 repayable loan
MSHDA DPA
Up to $7,500 DPA
Verdict
Kentucky wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $210K and lower overall costs, Kentucky offers meaningful savings compared to Michigan. Both states offer first-time buyer programs — explore the state pages for full details.