Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and Vermont. Updated for 2026.
Metric
Michigan
Vermont
Median Home Price
$240K
$380K
Property Tax Rate
1.54%
1.9%
Avg Closing Costs
$4K
$6K
Closing Cost %
1.5%
1.6%
Transfer Tax
0.86%
1.45%
Homeowners Insurance
$1,800/yr
$1,100/yr
First-Time Buyer Program
MSHDA DPA
Up to $7,500 DPA
VHFA MOVE Mortgage
$5K–$15K DPA
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 Vermont. Both states offer first-time buyer programs — explore the state pages for full details.