Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maine and New Mexico. Updated for 2026.
Metric
Maine
New Mexico
Median Home Price
$350K
$280K
Property Tax Rate
1.3%
0.8%
Avg Closing Costs
$5K
$4K
Closing Cost %
1.5%
1.4%
Transfer Tax
0.44%
None
Homeowners Insurance
$1,300/yr
$1,900/yr
First-Time Buyer Program
MaineHousing First Home
$5,000 Advantage grant
MFA First Home
FIRSTDown DPA assistance
Verdict
New Mexico wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $280K and lower overall costs, New Mexico offers meaningful savings compared to Maine. Both states offer first-time buyer programs — explore the state pages for full details.