Side-by-side comparison of mortgage costs, property taxes, closing costs, and homeowners insurance between Minnesota and Washington. Updated for 2026.
Minnesota wins 3 of 6 cost categories, making it the more affordable state for homebuyers overall. With a median home price of $335K and lower overall costs, Minnesota offers meaningful savings compared to Washington. 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 Minnesota saves you approximately $1,605/month ($19,260/year) compared to Washington, based on median home prices with identical loan terms.
Minnesota offers meaningfully lower home prices than Washington, with median prices running 42% less ($245K difference). This gap translates to both a smaller loan and lower monthly payments. First-time buyers priced out of Washington may find Minnesota far more accessible, particularly when combined with local down payment assistance programs.
Property tax rates are similar in both states (Minnesota: 1.12%, Washington: 0.98%), so taxes shouldn't be the deciding factor in your relocation decision. Instead, focus on differences in home prices, insurance costs, and state-specific programs. Both states collect roughly comparable property tax revenue relative to home values.
Closing costs are a one-time but significant expense. Washington averages $8K in closing costs (1.4% of purchase price) while Minnesota averages $5K (1.4%). Much of Washington's higher costs come from its 1.78% transfer tax, which adds $10K 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. Minnesota's Minnesota Housing Start Up provides Up to $18,000 deferred loan, while Washington's WSHFC Home Advantage offers Up to $10,000 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: Minnesota homes cost $245K less than Washington on average. That translates to roughly $1,605 less per month in total housing costs if you choose Minnesota. For most buyers, this price gap is the single biggest factor — it affects your loan size, monthly payment, and how quickly you build equity.