How Long It Will Take To Save For a Down Payment in 50 US Cities

Saving up for a down payment can be a financial hurdle for prospective homebuyers, particularly in large cities where home prices are far outpacing wages. Even in the most affordable cities, it would take a median-earning household nearly five years to save for a down payment on a median single-family home.

To find out how long it would take to save for a down payment in 50 major U.S. cities, Zoocasa calculated what a 15% down payment would be for a median-priced single-family home. Next, it calculated how long it would take a household earning the median income to save for this down payment, assuming they are saving 10% of their annual income.

Here’s a look at how long it would take to save for a down payment in cities across the U.S., ranked from shortest to longest amount of time.

• Median single-family home price: $220,000
• 15% down payment: $33,000
• Median household income: $68,014
• Years it would take to save for a down payment: 4.9 years

• Median single-family home price: $210,200
• 15% down payment: $31,530
• Median household income: $60,187
• Years it would take to save for a down payment: 5.2 years

• Median single-family home price: $210,600
• 15% down payment: $31,590
• Median household income: $60,712
• Years it would take to save for a down payment: 5.2 years

• Median single-family home price: $335,000
• 15% down payment: $50,250
• Median household income: $87,544
• Years it would take to save for a down payment: 5.7 years

• Median single-family home price: $250,000
• 15% down payment: $37,500
• Median household income: $64,251
• Years it would take to save for a down payment: 5.8 years

• Median single-family home price: $282,300
• 15% down payment: $42,345
• Median household income: $70,202
• Years it would take to save for a down payment: 6.0 years

• Median single-family home price: $270,000
• 15% down payment: $40,500
• Median household income: $65,256
• Years it would take to save for a down payment: 6.2 years

• Median single-family home price: $266,000
• 15% down payment: $39,900
• Median household income: $63,114
• Years it would take to save for a down payment: 6.3 years

• Median single-family home price: $205,000
• 15% down payment: $30,750
• Median household income: $48,090
• Years it would take to save for a down payment: 6.4 years

• Median single-family home price: $257,299
• 15% down payment: $38,595
• Median household income: $59,319
• Years it would take to save for a down payment: 6.5 years

• Median single-family home price: $250,000
• 15% down payment: $37,500
• Median household income: $57,537
• Years it would take to save for a down payment: 6.5 years

• Median single-family home price: $405,000
• 15% down payment: $60,750
• Median household income: $88,157
• Years it would take to save for a down payment: 6.9 years

• Median single-family home price: $339,900
• 15% down payment: $50,985
• Median household income: $71,673
• Years it would take to save for a down payment: 7.1 years

• Median single-family home price: $366,000
• 15% down payment: $54,900
• Median household income: $76,332
• Years it would take to save for a down payment: 7.2 years

• Median single-family home price: $310,000
• 15% down payment: $46,500
• Median household income: $62,994
• Years it would take to save for a down payment: 7.4 years

• Median single-family home price: $413,566
• 15% down payment: $62,035
• Median household income: $83,891
• Years it would take to save for a down payment: 7.4 years

• Median single-family home price: $296,000
• 15% down payment: $44,400
• Median household income: $59,110
• Years it would take to save for a down payment: 7.5 years

• Median single-family home price: $268,800
• 15% down payment: $40,320
• Median household income: $52,941
• Years it would take to save for a down payment: 7.6 years

• Median single-family home price: $190,700
• 15% down payment: $28,605
• Median household income: $37,271
• Years it would take to save for a down payment: 7.7 years

• Median single-family home price: $450,000
• 15% down payment: $67,500
• Median household income: $86,556
• Years it would take to save for a down payment: 7.8 years

• Median single-family home price: $385,000
• 15% down payment: $57,750
• Median household income: $74,070
• Years it would take to save for a down payment: 7.8 years

• Median single-family home price: $310,223
• 15% down payment: $46,533
• Median household income: $59,593
• Years it would take to save for a down payment: 7.8 years

• Median single-family home price: $410,000
• 15% down payment: $61,500
• Median household income: $77,655
• Years it would take to save for a down payment: 7.9 years

• Median single-family home price: $280,000
• 15% down payment: $42,000
• Median household income: $51,116
• Years it would take to save for a down payment: 8.2 years

• Median single-family home price: $330,000
• 15% down payment: $49,500
• Median household income: $60,440
• Years it would take to save for a down payment: 8.2 years

• Median single-family home price: $633,717
• 15% down payment: $95,058
• Median household income: $116,068
• Years it would take to save for a down payment: 8.2 years

• Median single-family home price: $351,000
• 15% down payment: $52,650
• Median household income: $61,503
• Years it would take to save for a down payment: 8.6 years

• Median single-family home price: $410,000
• 15% down payment: $61,500
• Median household income: $66,802
• Years it would take to save for a down payment: 9.2 years

• Median single-family home price: $535,000
• 15% down payment: $80,250
• Median household income: $85,876
• Years it would take to save for a down payment: 9.3 years

• Median single-family home price: $396,688
• 15% down payment: $59,503
• Median household income: $64,138
• Years it would take to save for a down payment: 9.3 years

• Median single-family home price: $395,000
• 15% down payment: $59,250
• Median household income: $63,985
• Years it would take to save for a down payment: 9.3 years

• Median single-family home price: $640,000
• 15% down payment: $96,000
• Median household income: $101,722
• Years it would take to save for a down payment: 9.4 years

• Median single-family home price: $241,500
• 15% down payment: $36,225
• Median household income: $37,761
• Years it would take to save for a down payment: 9.6 years

• Median single-family home price: $406,495
• 15% down payment: $60,974
• Median household income: $62,708
• Years it would take to save for a down payment: 9.7 years

• Median single-family home price: $444,000
• 15% down payment: $66,600
• Median household income: $66,292
• Years it would take to save for a down payment: 10 years

• Median single-family home price: $479,000
• 15% down payment: $71,850
• Median household income: $72,092
• Years it would take to save for a down payment: 10 years

• Median single-family home price: $493,220
• 15% down payment: $73,983
• Median household income: $71,328
• Years it would take to save for a down payment: 10.4 years

• Median single-family home price: $497,400
• 15% down payment: $74,610
• Median household income: $71,498
• Years it would take to save for a down payment: 10.4 years

• Median single-family home price: $550,000
• 15% down payment: $82,500
• Median household income: $78,954
• Years it would take to save for a down payment: 10.4 years

• Median single-family home price: $364,900
• 15% down payment: $54,735
• Median household income: $52,049
• Years it would take to save for a down payment: 10.5 years

• Median single-family home price: $301,900
• 15% down payment: $45,285
• Median household income: $42,464
• Years it would take to save for a down payment: 10.7 years

• Median single-family home price: $468,900
• 15% down payment: $70,335
• Median household income: $64,931
• Years it would take to save for a down payment: 10.8 years

• Median single-family home price: $624,723
• 15% down payment: $93,708
• Median household income: $85,853
• Years it would take to save for a down payment: 10.9 years

• Median single-family home price: $525,950
• 15% down payment: $78,893
• Median household income: $72,357
• Years it would take to save for a down payment: 10.9 years

• Median single-family home price: $659,200
• 15% down payment: $98,880
• Median household income: $76,607
• Years it would take to save for a down payment: 12.9 years

• Median single-family home price: $801,000
• 15% down payment: $120,150
• Median household income: $83,411
• Years it would take to save for a down payment: 14.4 years

• Median single-family home price: $630,000
• 15% down payment: $94,500
• Median household income: $64,215
• Years it would take to save for a down payment: 14.7 years

• Median single-family home price: $900,500
• 15% down payment: $135,075
• Median household income: $89,212
• Years it would take to save for a down payment: 15.1 years

• Median single-family home price: $1,386,500
• 15% down payment: $207,975
• Median household income: $136,689
• Years it would take to save for a down payment: 15.2 years

• Median single-family home price: $1,020,000
• 15% down payment: $153,000
• Median household income: $98,657
• Years it would take to save for a down payment: 15.5 years

Data is sourced from Zoocasa and is accurate as of April 25, 2024.