Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Jersey and Utah. Updated for 2026.
Metric
New Jersey
Utah
Median Home Price
$505K
$480K
Property Tax Rate
2.47%
0.58%
Avg Closing Costs
$10K
$6K
Closing Cost %
2.0%
1.3%
Transfer Tax
1%
None
Homeowners Insurance
$1,500/yr
$1,200/yr
First-Time Buyer Program
NJHMFA DPA Program
Up to $15,000 forgivable
UHC FirstHome Loan
Up to 6% DPA second
Verdict
Utah wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $480K and lower overall costs, Utah offers meaningful savings compared to New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.