Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Jersey and Wyoming. Updated for 2026.
Metric
New Jersey
Wyoming
Median Home Price
$505K
$340K
Property Tax Rate
2.47%
0.61%
Avg Closing Costs
$10K
$4K
Closing Cost %
2.0%
1.1%
Transfer Tax
1%
None
Homeowners Insurance
$1,500/yr
$1,800/yr
First-Time Buyer Program
NJHMFA DPA Program
Up to $15,000 forgivable
WCDA Spruce Up Wyoming
Below-market rate loans
Verdict
Wyoming wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, Wyoming offers meaningful savings compared to New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.