Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Mexico and Oklahoma. Updated for 2026.
Metric
New Mexico
Oklahoma
Median Home Price
$280K
$210K
Property Tax Rate
0.8%
0.88%
Avg Closing Costs
$4K
$3K
Closing Cost %
1.4%
1.3%
Transfer Tax
None
0.075%
Homeowners Insurance
$1,900/yr
$3,600/yr
First-Time Buyer Program
MFA First Home
FIRSTDown DPA assistance
OHFA Homebuyer DPA
Up to 3.5% DPA
Verdict
New Mexico and Oklahoma are evenly matched across major housing cost categories. Your decision may come down to other factors like job market, climate, or lifestyle preferences. Use the calculators below to model your specific scenario.