New York vs North Carolina: Mortgage & Housing Costs
Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between New York and North Carolina. Updated for 2026.
Metric
New York
North Carolina
Median Home Price
$430K
$340K
Property Tax Rate
1.72%
0.78%
Avg Closing Costs
$12K
$5K
Closing Cost %
2.8%
1.4%
Transfer Tax
0.8%
0.2%
Homeowners Insurance
$2,100/yr
$2,300/yr
First-Time Buyer Program
SONYMA Achieving the Dream
Up to $15,000 DPAL
NC Home Advantage Mortgage
Up to 5% DPA
Verdict
North Carolina 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, North Carolina offers meaningful savings compared to New York. Both states offer first-time buyer programs — explore the state pages for full details.