Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maryland and Minnesota. Updated for 2026.
Metric
Maryland
Minnesota
Median Home Price
$420K
$335K
Property Tax Rate
1.09%
1.12%
Avg Closing Costs
$11K
$5K
Closing Cost %
2.5%
1.4%
Transfer Tax
1.5%
0.33%
Homeowners Insurance
$1,700/yr
$2,100/yr
First-Time Buyer Program
MD Mortgage Program
Up to $25,000 DPA
Minnesota Housing Start Up
Up to $18,000 deferred loan
Verdict
Minnesota wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $335K and lower overall costs, Minnesota offers meaningful savings compared to Maryland. Both states offer first-time buyer programs — explore the state pages for full details.