Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Kentucky and New Jersey. Updated for 2026.
Metric
Kentucky
New Jersey
Median Home Price
$210K
$505K
Property Tax Rate
0.83%
2.47%
Avg Closing Costs
$3K
$10K
Closing Cost %
1.4%
2.0%
Transfer Tax
0.1%
1%
Homeowners Insurance
$2,400/yr
$1,500/yr
First-Time Buyer Program
KHC Regular DAP
Up to $6,000 repayable loan
NJHMFA DPA Program
Up to $15,000 forgivable
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 New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.