10d (edited) • Real Estate News
Down Payments Are Up Nationwide
New data shows that buyers today are putting down more money than at any time in over 30 years.
Across the country, the average down payment is now close to 19% of the purchase price. On a typical home price over $400,000, that can mean tens of thousands of dollars in cash. (https://www.investopedia.com/the-average-down-payment-buyers-are-making-right-now-and-how-yours-stacks-up-11855995)
What the numbers look like:
- Average down payment is around 19% nationally
- First-time buyers are averaging closer to 10%
- Repeat buyers are often in the 20%+ range because they are using equity from a previous home
What this does NOT mean:
- It does not mean you must have 19% or 20% down to buy
- It does not mean you are “behind” if you don’t have a huge savings balance
What it really means:
- Cash-heavy buyers and move-up buyers have an advantage in many markets
- The gap between those with equity and those starting from zero is wider than before
- Strategy matters more than ever for first-time buyers
How to use this:
- Focus on a down payment that works for your budget and timeline, not the national average
- Learn about 3–5% down options, DPA programs, and how PMI affects your monthly payment
- In the community, you can share your state, rough price range, and savings, and we can help you think through a realistic down payment plan for your situation
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Down Payments Are Up Nationwide
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