Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Michigan and Utah. Updated for 2026.
Utah wins 4 of 6 cost categories, making it the more affordable state for homebuyers overall. However, Michigan 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.
Buying in Michigan saves you approximately $1,330/month ($15,960/year) compared to Utah, based on median home prices with identical loan terms.
Michigan offers meaningfully lower home prices than Utah, with median prices running 50% less ($240K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Utah may find Michigan far more accessible, particularly when combined with local down payment assistance programs.
Utah has a moderate property tax advantage at 0.58% versus Michigan's 1.54%. While the rate gap of 0.96% may seem small, it translates to an annual difference of approximately $912 when applied to each state's median home price. Over a typical homeownership period of 7-10 years, that adds up to $7K in savings.
Insurance costs favor Utah at $1,200/year versus $1,800/year in Michigan, 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.
Both states offer down payment assistance for first-time buyers. Michigan's MSHDA DPA provides Up to $7,500 DPA, while Utah's UHC FirstHome Loan offers Up to 6% DPA second. 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: Michigan homes cost $240K less than Utah on average. That translates to roughly $1,330 less per month in total housing costs if you choose Michigan. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.