New Mexico vs North Dakota: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Mexico and North Dakota. Updated for 2026.
Metric
New Mexico
North Dakota
Median Home Price
$280K
$255K
Property Tax Rate
0.8%
0.98%
Avg Closing Costs
$4K
$3K
Closing Cost %
1.4%
1.1%
Transfer Tax
None
None
Homeowners Insurance
$1,900/yr
$2,100/yr
First-Time Buyer Program
MFA First Home
FIRSTDown DPA assistance
NDHFA FirstHome
DCA up to $14,000
Verdict
North Dakota wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $255K and lower overall costs, North Dakota offers meaningful savings compared to New Mexico. Both states offer first-time buyer programs — explore the state pages for full details.