Massachusetts vs Minnesota: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Massachusetts and Minnesota. Updated for 2026.
Metric
Massachusetts
Minnesota
Median Home Price
$595K
$335K
Property Tax Rate
1.2%
1.12%
Avg Closing Costs
$10K
$5K
Closing Cost %
1.6%
1.4%
Transfer Tax
0.456%
0.33%
Homeowners Insurance
$2,200/yr
$2,100/yr
First-Time Buyer Program
MassHousing DPA
Up to $50,000 DPA loan
Minnesota Housing Start Up
Up to $18,000 deferred loan
Verdict
Minnesota wins 6 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 Massachusetts. Both states offer first-time buyer programs — explore the state pages for full details.