Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Jersey and Texas. Updated for 2026.
Metric
New Jersey
Texas
Median Home Price
$505K
$310K
Property Tax Rate
2.47%
1.8%
Avg Closing Costs
$10K
$5K
Closing Cost %
2.0%
1.7%
Transfer Tax
1%
None
Homeowners Insurance
$1,500/yr
$3,800/yr
First-Time Buyer Program
NJHMFA DPA Program
Up to $15,000 forgivable
TDHCA My First Texas Home
Up to 5% DPA grant
Verdict
Texas wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $310K and lower overall costs, Texas offers meaningful savings compared to New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.