Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Hawaii and Wyoming. Updated for 2026.
Wyoming wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $340K and lower overall costs, Wyoming offers meaningful savings compared to Hawaii. 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.
The monthly payment difference is $2,942/month — that’s $35,304/year or $1.1M over the life of a 30-year loan. Buying in Wyoming is the more affordable option based on median home prices with identical loan terms.
Based on the 28% debt-to-income rule — your monthly housing payment should not exceed 28% of gross monthly income.
To afford the median home in Hawaii, you need a household income of approximately $228K/year. In Wyoming, you need $102K/year — less by $126K/year. That $126K income gap means Wyoming is accessible to a significantly wider range of households.
There's a dramatic price gap between these two states. Homes in Wyoming cost 59% less than in Hawaii — that's a difference of $490K on the median home. For buyers relocating from Hawaii to Wyoming, this can mean upgrading significantly or pocketing substantial savings. The equity you've built in a Hawaii home could fund a much larger down payment in Wyoming, potentially eliminating PMI and reducing your monthly payment dramatically.
Hawaii has a moderate property tax advantage at 0.28% versus Wyoming's 0.61%. While the rate gap of 0.33% may seem small, it translates to an annual difference of approximately $250 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $2K in savings.
Insurance costs favor Hawaii at $1,200/year versus $1,800/year in Wyoming, a difference of $600 annually. While not the largest cost factor, this adds up to over $6K 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. Hawaii averages $12K in closing costs (1.5% of purchase price) while Wyoming averages $4K (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. Hawaii's HHFDC Hula Mae Program provides Below-market rate mortgages, while Wyoming's WCDA Spruce Up Wyoming offers Below-market rate loans. 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: Wyoming homes cost $490K less than Hawaii on average. That translates to roughly $2,942 less per month in total housing costs if you choose Wyoming. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.