Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Minnesota and Montana. Updated for 2026.
Metric
Minnesota
Montana
Median Home Price
$335K
$430K
Property Tax Rate
1.12%
0.74%
Avg Closing Costs
$5K
$6K
Closing Cost %
1.4%
1.5%
Transfer Tax
0.33%
None
Homeowners Insurance
$2,100/yr
$2,100/yr
First-Time Buyer Program
Minnesota Housing Start Up
Up to $18,000 deferred loan
MBOH Regular Bond Program
Up to $15,000 DPA
Verdict
Minnesota wins 3 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 Montana. Both states offer first-time buyer programs — explore the state pages for full details.