Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Colorado and North Dakota. Updated for 2026.
North Dakota wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $255K and lower overall costs, North Dakota offers meaningful savings compared to Colorado. Both states offer first-time buyer programs — explore the state pages for full details.
Estimated PITI payments assuming 10% down, 6.5% rate, 30-year fixed mortgage with PMI.
Buying in North Dakota saves you approximately $1,712/month ($20,544/year) compared to Colorado, based on median home prices with identical loan terms.
There's a dramatic price gap between these two states. Homes in North Dakota cost 51% less than in Colorado — that's a difference of $265K on the median home. For buyers relocating from Colorado to North Dakota, this can mean upgrading significantly or pocketing substantial savings. The equity you've built in a Colorado home could fund a much larger down payment in North Dakota, potentially eliminating PMI and reducing your monthly payment dramatically.
Colorado has a moderate property tax advantage at 0.51% versus North Dakota's 0.98%. While the rate gap of 0.47% may seem small, it translates to an annual difference of approximately $153 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $1K in savings.
Insurance costs favor North Dakota at $2,100/year versus $3,200/year in Colorado, a difference of $1,100 annually. While not the largest cost factor, this adds up to over $11K over a decade of homeownership. Shop multiple carriers in either state — actual premiums depend on your specific property, coverage level, and claims history.
Closing costs are a one-time but significant expense. Colorado averages $7K in closing costs (1.4% of purchase price) while North Dakota averages $3K (1.1%). The difference is spread across title insurance, attorney fees, and recording costs rather than a single large tax. Budget for these upfront costs — they affect how much cash you need on hand at closing.
Both states offer down payment assistance for first-time buyers. Colorado's CHFA Down Payment Assistance provides Up to $25,000 second mortgage, while North Dakota's NDHFA FirstHome offers DCA up to $14,000. These programs can significantly reduce your upfront costs and make homeownership accessible even if you haven't saved a full 20% down payment. Check eligibility requirements on each state's housing finance agency website — income limits and purchase price caps apply.
The bottom line: North Dakota homes cost $265K less than Colorado on average. That translates to roughly $1,712 less per month in total housing costs if you choose North Dakota. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.