flexiblefullpage - default
Currently Reading

Median US Down Payment Falls by More Than $4,000

billboard - default

Median US Down Payment Falls by More Than $4,000

The recent decrease in costs is welcome relief for homebuyers, but many West Coast markets remain expensive

May 15, 2024
Homebuyer takes keys for new house
Image: Shisu_ka / stock.adobe.com

While single-family home prices remain elevated, it appears costs for buyers are finally falling. According to housing market data platform Realtor.com, the median down payment for a house in the U.S. has dropped from $30,400 to $26,000 quarter-over-quarter. However, housing costs across the country vary considerably, with many Pacific Coast markets taking the lead for being the most expensive. Even so, pricier markets have also seen the cost of the average down payment decrease.

Yet when it comes to the city where buyers shell out the highest down payment in dollars, that dubious honor belongs to San Jose, CA, where buyers put down an average of $213,000, or 24.0% of the purchase price. Nestled in the heart of Silicon Valley, where Apple, Google, and Nvidia are based, it is the most expensive housing market in America, according to a Realtor.com analysis. There, the median home list price hovers around $1.46 million—and homebuyers need to earn at least $361,000 to own a home.

In a surprise twist, San Jose also nabbed another title: the largest annual decrease in down payments in the largest metros. Down payment amounts dropped by 11.9% (or $28, 779) compared with the last quarter of 2023, highlighting how down payments are falling overall.

Read more


leaderboard2 - default

Related Stories

Housing Markets

5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped

Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%


Survey Shows Buyers Have Homebuying Regrets

More than 80% of respondents have regrets about their home purchase and 50% of upcoming buyers would consider forgoing using an agent


4 Housing Affordability Organizations Awarded 2024 Ivory Prize

Ivory Innovations will provide $300,000 in total prize money to support winners’ initiatives

boombox1 -
native1 - default
halfpage2 -

More in Category

Home builders can maximize efficiencies gained through simplification and standardization by automating both on-site and back-office operations 

Delaware-based Schell Brothers, our 2023 Builder of the Year, brings a refreshing approach to delivering homes and measuring success with an overriding mission of happiness

NAHB Chairman's Message: In a challenging business environment for home builders, and with higher housing costs for families, the National Association of Home Builders is working to help home builders better meet the nation's housing needs

native2 - default
halfpage1 -

Create an account

By creating an account, you agree to Pro Builder's terms of service and privacy policy.

Daily Feed Newsletter

Get Pro Builder in your inbox

Each day, Pro Builder's editors assemble the latest breaking industry news, hottest trends, and most relevant research, delivered to your inbox.

Save the stories you care about

Lorem ipsum dolor sit amet lorem ipsum dolor sit amet lorem ipsum dolor sit amet.

The bookmark icon allows you to save any story to your account to read it later
Tap it once to save, and tap it again to unsave

It looks like you’re using an ad-blocker!

Pro Builder is an advertisting supported site and we noticed you have ad-blocking enabled in your browser. There are two ways you can keep reading:

Disable your ad-blocker
Disable now
Subscribe to Pro Builder
Already a member? Sign in
Become a Member

Subscribe to Pro Builder for unlimited access

Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua.