Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Minnesota and Texas. Updated for 2026.
Metric
Minnesota
Texas
Median Home Price
$335K
$310K
Property Tax Rate
1.12%
1.8%
Avg Closing Costs
$5K
$5K
Closing Cost %
1.4%
1.7%
Transfer Tax
0.33%
None
Homeowners Insurance
$2,100/yr
$3,800/yr
First-Time Buyer Program
Minnesota Housing Start Up
Up to $18,000 deferred loan
TDHCA My First Texas Home
Up to 5% DPA grant
Verdict
Minnesota wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Texas 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.