Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New Mexico and Wisconsin. Updated for 2026.
Metric
New Mexico
Wisconsin
Median Home Price
$280K
$280K
Property Tax Rate
0.8%
1.76%
Avg Closing Costs
$4K
$4K
Closing Cost %
1.4%
1.4%
Transfer Tax
None
0.3%
Homeowners Insurance
$1,900/yr
$1,300/yr
First-Time Buyer Program
MFA First Home
FIRSTDown DPA assistance
WHEDA First-Time Advantage
Up to $3,050 Easy Close grant
Verdict
New Mexico wins 2 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Wisconsin has a lower total cost when combining home price, closing costs, and insurance. Both states offer first-time buyer programs — explore the state pages for full details.