Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maine and New Jersey. Updated for 2026.
Metric
Maine
New Jersey
Median Home Price
$350K
$505K
Property Tax Rate
1.3%
2.47%
Avg Closing Costs
$5K
$10K
Closing Cost %
1.5%
2.0%
Transfer Tax
0.44%
1%
Homeowners Insurance
$1,300/yr
$1,500/yr
First-Time Buyer Program
MaineHousing First Home
$5,000 Advantage grant
NJHMFA DPA Program
Up to $15,000 forgivable
Verdict
Maine wins 6 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $350K and lower overall costs, Maine offers meaningful savings compared to New Jersey. Both states offer first-time buyer programs — explore the state pages for full details.