Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Maryland and New Hampshire. Updated for 2026.
New Hampshire wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Maryland has a lower total cost when combining home price, closing costs, and insurance. 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 $403/month — that’s $4,836/year or $145K over the life of a 30-year loan. Buying in Maryland 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 New Hampshire, you need a household income of approximately $149K/year. In Maryland, you need $132K/year — less by $17K/year. The $17K difference is meaningful but manageable for dual-income households.
Home prices in Maryland and New Hampshire are relatively close, with only a 2% difference ($10K). At similar price points, your decision should focus on the other cost factors: property taxes, insurance, closing costs, and the overall quality of life each state offers. Small percentage differences in tax rates compound over decades of homeownership.
Maryland has a moderate property tax advantage at 1.09% versus New Hampshire's 2.09%. While the rate gap of 1.00% may seem small, it translates to an annual difference of approximately $4,409 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $35K in savings.
Closing costs are a one-time but significant expense. Maryland averages $11K in closing costs (2.5% of purchase price) while New Hampshire averages $7K (1.6%). Much of Maryland's higher costs come from its 1.5% transfer tax, which adds $6K to the median home purchase. 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. Maryland's MD Mortgage Program provides Up to $25,000 DPA, while New Hampshire's NHHFA Home Flex Plus offers Up to $20,000 DPA. 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: Maryland and New Hampshire are broadly similar in housing costs, with only $403/month separating them in total PITI payments. In cases like this, your decision should be driven by lifestyle preferences — job opportunities, climate, proximity to family, and quality of life — rather than pure cost savings. Either state offers a reasonable path to homeownership.