Although, I do not see them listed online yet, Home Depot has in some stores a new product called "project squares".
These are the pink "foamular" ones and they are pre-cut into squares that are perfect in size for model railroads.
Moreover, they seem to cut better than the same type of insulation "sheets".
Not sure why that is...they seem stronger, but yet cut easier.
In fact, i can score the square with a dull box cutter without even going all the way thru and it will "snap" along the score perfectly.
Never was able to do this with regular sheets.
Just make sure you cut with the grain, otherwise they do not cut as cleanly at all.
The strength is what impressed me the most and it does not fragment like the sheets do as bad.
I bought half of the ones on display in the store...you will pay more than the standard sheets as they are $4.95 each but I feel it was well worth it.