Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and Texas. Updated for 2026.
Metric
Michigan
Texas
Median Home Price
$240K
$310K
Property Tax Rate
1.54%
1.8%
Avg Closing Costs
$4K
$5K
Closing Cost %
1.5%
1.7%
Transfer Tax
0.86%
None
Homeowners Insurance
$1,800/yr
$3,800/yr
First-Time Buyer Program
MSHDA DPA
Up to $7,500 DPA
TDHCA My First Texas Home
Up to 5% DPA grant
Verdict
Michigan wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $240K and lower overall costs, Michigan offers meaningful savings compared to Texas. Both states offer first-time buyer programs — explore the state pages for full details.