Payotte study · Source data

The cost of buying a home, state by state

Loan costs, property tax and insurance for the first year, each from its official source, and the state transfer tax beside them.

In short

Adding the three costs Payotte measures at the source for a home buyer's first year (the lender's loan costs actually paid in 2025, the property tax owners pay, and the homeowners insurance premium), the median state comes to $10,792. The highest are New Jersey ($18,647), California ($16,044), Hawaii ($15,276); the lowest Indiana ($6,978), Iowa ($7,235), West Virginia ($7,415). The state transfer tax on the median home, shown separately because the seller often pays it, adds up to $9,290 in Delaware.

The 50 states

StateLoan costs at closingProperty tax, 1 yearInsurance, 1 yearTotalState transfer tax on the median homePaid by
New Jersey$7,459$9,590$1,598$18,647not computed
on $496,000		seller
California$9,303$5,124$1,617$16,044not computed
on $759,500		by contract
Hawaii$10,901$2,239$2,136$15,276not computed
on $875,900		seller
Connecticut$6,521$6,643$1,908$15,072$3,969 to $4,961
on $396,900		seller
Texas$8,435$4,232$2,249$14,916$0
on $313,200		—
Florida$8,695$2,730$3,211$14,636$2,778
on $396,900		by contract
New York$6,419$6,582$1,218$14,219$1,800
on $449,800		seller
Washington$7,599$4,556$1,304$13,459$6,763
on $602,200		seller
Maryland$7,783$4,093$1,520$13,396$2,182
on $436,300		shared
Massachusetts$5,546$5,992$1,850$13,388$2,770
on $607,400		seller
Illinois$6,257$5,298$1,563$13,118$281
on $280,700		shared
Alaska$7,738$3,901$1,283$12,922$0
on $376,500		—
Oregon$7,731$3,876$1,153$12,760$0
on $497,500		—
New Hampshire$4,693$6,667$1,365$12,725$3,441
on $458,800, per party		shared
Rhode Island$5,749$4,900$2,001$12,650not computed
on $455,700		seller
Montana$7,485$2,693$1,823$12,001$0
on $425,400		—
Idaho$8,727$2,038$1,235$12,000$0
on $446,400		—
Georgia$8,015$2,341$1,635$11,991not computed
on $343,300		seller
Utah$8,327$2,525$1,041$11,893$0
on $545,200		—
Nevada$8,430$2,027$1,077$11,534$1,776
on $455,500		shared
Colorado$6,259$2,602$2,538$11,399$57
on $574,600		by contract
Arizona$8,315$1,879$1,172$11,366$0
on $426,000		—
Vermont$5,122$5,039$1,203$11,364$3,246
on $352,800		buyer
Virginia$6,796$2,790$1,280$10,866not computed
on $403,500		by contract
Pennsylvania$6,490$3,311$1,015$10,816$2,776
on $277,600		shared
Minnesota$5,553$3,357$1,858$10,768$1,137
on $344,600		seller
Wyoming$7,301$1,767$1,667$10,735$0
on $339,500		—
Oklahoma$6,170$1,599$2,525$10,294$334
on $222,100		seller
Delaware$7,353$1,768$1,125$10,246$9,290
on $371,600		shared
North Dakota$5,761$2,468$1,930$10,159$0
on $266,100		—
South Dakota$5,625$2,724$1,794$10,143$290
on $289,600		seller
New Mexico$6,720$1,731$1,451$9,902$0
on $279,900		—
Louisiana$6,256$1,180$2,438$9,874$0
on $223,200		seller
Tennessee$6,596$1,442$1,677$9,715$1,231
on $332,600		buyer
Nebraska$3,502$3,549$2,434$9,485$876
on $263,100		seller
South Carolina$6,682$1,251$1,460$9,393$1,108
on $299,500		seller
Mississippi$6,211$1,215$1,921$9,347$0
on $186,500		—
Ohio$5,220$2,822$1,239$9,281$240
on $239,800		by contract
Maine$4,718$3,036$1,149$8,903not computed
on $341,900		shared
North Carolina$5,641$1,896$1,319$8,856$666
on $333,000		seller
Kansas$3,747$2,798$2,289$8,834$0
on $238,700		—
Alabama$6,096$788$1,857$8,741$234
on $233,300		by contract
Michigan$4,500$2,904$1,171$8,575$2,189
on $254,200		seller
Wisconsin$3,435$3,792$1,199$8,426$884
on $294,700		seller
Missouri$4,246$1,948$1,989$8,183$0
on $254,400		—
Kentucky$4,923$1,544$1,526$7,993$226
on $226,000		seller
Arkansas$5,070$1,040$1,698$7,808$711
on $215,600		by contract
West Virginia$5,407$865$1,143$7,415$584 to $961
on $170,800		seller
Iowa$2,736$2,897$1,602$7,235not computed
on $227,300		seller
Indiana$3,899$1,614$1,465$6,978$0
on $243,500		—

Loan costs: median “total loan costs” (Closing Disclosure section D) on home purchase loans in 2025, HMDA. Property tax: median paid by owner-occupants, Census ACS 2020-2024. Insurance: median across ZIP Codes of the average premium per homeowners policy in 2022, Treasury Federal Insurance Office. Transfer tax: state part (and the county tax every county must charge in Connecticut, Michigan and West Virginia, as a range), computed on the state's median home value (ACS 2024) with the same rule as the calculator on each state page; “not computed” where the state rule cannot be reduced to one formula. Local transfer taxes are not included: see local transfer taxes.

What is not counted

The down payment; title insurance (see title insurance); recording fees; the appraisal and inspection; prepaid interest and the escrow deposit; HOA fees (see HOA fees by state); local transfer and mortgage taxes. Payotte does not have an official, comparable figure for them in every state, so it does not estimate them. The three costs come from different years (loan costs 2025, property tax 2020-2024, insurance 2022): read the total as a comparison between states.

Each cost in detail

Loan costs by county · Property tax by county · Home insurance cost by state · Closing costs explained

Questions

What does it cost to buy a home in the US besides the down payment?

For the first year, the three costs measured here add up to $10,792 in the median state: loan costs at closing, one year of property tax and one year of insurance. Title insurance, recording fees, appraisal, inspection and prepaid interest come on top and are not estimated here.

Which state is the most expensive to buy in?

On these three costs: New Jersey, $18,647 (loan costs $7,459, property tax $9,590, insurance $1,598); California, $16,044 (loan costs $9,303, property tax $5,124, insurance $1,617); Hawaii, $15,276 (loan costs $10,901, property tax $2,239, insurance $2,136).

General information drawn from the official sources cited and dated on this page. It is not legal, tax or financial advice: for your own situation, ask a licensed professional.

Sources