Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Minnesota and Oklahoma. Updated for 2026.
Metric
Minnesota
Oklahoma
Median Home Price
$335K
$210K
Property Tax Rate
1.12%
0.88%
Avg Closing Costs
$5K
$3K
Closing Cost %
1.4%
1.3%
Transfer Tax
0.33%
0.075%
Homeowners Insurance
$2,100/yr
$3,600/yr
First-Time Buyer Program
Minnesota Housing Start Up
Up to $18,000 deferred loan
OHFA Homebuyer DPA
Up to 3.5% DPA
Verdict
Oklahoma wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $210K and lower overall costs, Oklahoma offers meaningful savings compared to Minnesota. Both states offer first-time buyer programs — explore the state pages for full details.