Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and Oregon. Updated for 2026.
Metric
Michigan
Oregon
Median Home Price
$240K
$480K
Property Tax Rate
1.54%
0.93%
Avg Closing Costs
$4K
$7K
Closing Cost %
1.5%
1.4%
Transfer Tax
0.86%
0.1%
Homeowners Insurance
$1,800/yr
$1,400/yr
First-Time Buyer Program
MSHDA DPA
Up to $7,500 DPA
OHCS Oregon Bond
Cash Advantage up to $15K
Verdict
Oregon wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Michigan has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.