How your housing costs change when you relocate. Based on 2026 data with 10% down, 6.5% rate, 30-year fixed.
Your housing costs will decrease by approximately $1,566 per month ($18,792/year) when you move from New Jersey to Texas.
If you sell your median-priced New Jersey home ($505K) and buy in Texas ($310K):
Your New Jersey equity covers the 20% down payment on a median Texas home with $90K left over. That surplus can cover closing costs, moving expenses, or go into savings.
Over 10 years, this move saves you approximately $188K in housing costs alone.
Your dollar stretches further in Texas. The median home costs 39% less than in New Jersey, which translates to a $195K difference in purchase price. This means a smaller loan, a lower monthly payment, and less total interest paid over the life of your mortgage.
Good news on taxes: Texas's 1.8% property tax rate is significantly lower than New Jersey's 2.47%. You'll save approximately $6,894 per year on property taxes, which adds up to $69K over a decade.
Insurance will cost you more in Texas — $3,800/year compared to $1,500/year in New Jersey. That's an extra $2,300 annually ($192/month). High premiums are driven by severe weather risk in the region.
When you buy in Texas, expect about $5K in closing costs (1.7% of purchase price). Texas has no transfer tax, which helps keep your upfront costs lower. Budget for this amount on top of your down payment.
Texas's TDHCA My First Texas Home offers Up to 5% DPA grant. If you haven't owned a home in three years (or are buying in Texas for the first time), you may qualify. Check eligibility requirements and income limits on Texas's housing finance agency website.