Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maine and Missouri. Updated for 2026.
Missouri wins 5 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $235K and lower overall costs, Missouri offers meaningful savings compared to Maine. 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 Missouri saves you approximately $812/month ($9,744/year) compared to Maine, based on median home prices with identical loan terms.
Missouri offers meaningfully lower home prices than Maine, with median prices running 33% less ($115K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Maine may find Missouri far more accessible, particularly when combined with local down payment assistance programs.
Missouri has a moderate property tax advantage at 0.97% versus Maine's 1.3%. While the rate gap of 0.33% may seem small, it translates to an annual difference of approximately $2,271 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $18K in savings.
Insurance costs favor Maine at $1,300/year versus $2,200/year in Missouri, a difference of $900 annually. While not the largest cost factor, this adds up to over $9K 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. Maine averages $5K in closing costs (1.5% of purchase price) while Missouri averages $2K (0.9%). 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. Maine's MaineHousing First Home provides $5,000 Advantage grant, while Missouri's MHDC First Place Loan offers Up to 4% cash assistance. 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: Missouri homes cost $115K less than Maine on average. That translates to roughly $812 less per month in total housing costs if you choose Missouri. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.