Here’s How Much You Need for a 15% Down Payment on a House in 50 Cities

Do you know how much money you’d need to cover a 15% down payment for buying a home in major cities like St. Louis, Detroit, Topeka or Des Moines? 

To find out how much money is needed for a 15% down payment in these four cities and more U.S. metros, GOBankingRates looked at the 500 largest cities in terms of total households. These households were then isolated and each city’s median household income, 2024 typical home value and optical savings amount was factored in.

Ranked from highest to lowest average 2024 home value amounts, here’s how much a 15% down payment costs on a home in these 50 cities.

• Average 2024 home value: $200,716
• Median household income: $61,633
• Yearly optimum savings: $12,327
• 15% down payment for a house: $30,107

• Average 2024 home value: $200,095
• Median household income: $47,421
• Yearly optimum savings: $9,484
• 15% down payment for a house: $30,014

• Average 2024 home value: $200,074
• Median household income: $60,628
• Yearly optimum savings: $12,126
• 15% down payment for a house: $30,011

• Average 2024 home value: $199,944
• Median household income: $63,678
• Yearly optimum savings: $12,736
• 15% down payment for a house: $29,992

• Average 2024 home value: $198,034
• Median household income: $57,415
• Yearly optimum savings: $11,483
• 15% down payment for a house: $9,705

• Average 2024 home value: $197,327
• Median household income: $59,254
• Yearly optimum savings: $11,851
• 15% down payment for a house: $29,599

• Average 2024 home value: $194,308
• Median household income: $60,712
• Yearly optimum savings: $12,142
• 15% down payment for a house: $29,146

• Average 2024 home value: $191,074
• Median household income: $54,761
• Yearly optimum savings: $10,952
• 15% down payment for a house: $28,661

• Average 2024 home value: $190,211
• Median household income: $65,848
• Yearly optimum savings: $13,170
• 15% down payment for a house: $28,532

• Average 2024 home value: $190,192
• Median household income: $48,524
• Yearly optimum savings: $9,705
• 15% down payment for a house: $28,529

• Average 2024 home value: $187,318
• Median household income: $56,120
• Yearly optimum savings: $11,224
• 15% down payment for a house: $28,098

• Average 2024 home value: $187,096
• Median household income: $49,853
• Yearly optimum savings: $9,971
• 15% down payment for a house: $28,064

• Average 2024 home value: $186,980
• Median household income: $64,250
• Yearly optimum savings: $12,850
• 15% down payment for a house: $28,047

• Average 2024 home value: $185,835
• Median household income: $46,735
• Yearly optimum savings: $9,347
• 15% down payment for a house: $27,875

• Average 2024 home value: $184,717
• Median household income: $58,349
• Yearly optimum savings: $11,670
• 15% down payment for a house: $27,708

• Average 2024 home value: $181,350
• Median household income: $52,766
• Yearly optimum savings: $10,553
• 15% down payment for a house: $27,203

• Average 2024 home value: $180,755
• Median household income: $54,052
• Yearly optimum savings: $10,810
• 15% down payment for a house: $27,113

• Average 2024 home value: $180,591
• Median household income: $43,584
• Yearly optimum savings: $8,717
• 15% down payment for a house: $27,089

• Average 2024 home value: $175,901
• Median household income: $59,890
• Yearly optimum savings: $11,978
• 15% down payment for a house: $26,385

• Average 2024 home value: $175,283
• Median household income: $50,799
• Yearly optimum savings: $10,160
• 15% down payment for a house: $26,292

• Average 2024 home value: $174,267
• Median household income: $50,492
• Yearly optimum savings: $10,098
• 15% down payment for a house: $26,140

• Average 2024 home value: $173,867
• Median household income: $52,941
• Yearly optimum savings: $10,588
• 15% down payment for a house: $26,080

• Average 2024 home value: $173,682
• Median household income: $49,056
• Yearly optimum savings: $9,811
• 15% down payment for a house: $26,052

• Average 2024 home value: $172,918
• Median household income: $43,135
• Yearly optimum savings: $8,627
• 15% down payment for a house: $25,938

• Average 2024 home value: $172,180
• Median household income: $48,776
• Yearly optimum savings: $9,755
• 15% down payment for a house: $25,827

• Average 2024 home value: $166,925
• Median household income: $55,584
• Yearly optimum savings: $11,117
• 15% down payment for a house: $25,039

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• Average 2024 home value: $166,658
• Median household income: $52,368
• Yearly optimum savings: $10,474
• 15% down payment for a house: $24,999

• Average 2024 home value: $164,854
• Median household income: $48,897
• Yearly optimum savings: $9,779
• 15% down payment for a house: $24,728

• Average 2024 home value: $160,730
• Median household income: $54,561
• Yearly optimum savings: $10,912
• 15% down payment for a house: $24,110

• Average 2024 home value: $155,487
• Median household income: $49,166
• Yearly optimum savings: $9,833
• 15% down payment for a house: $23,323

• Average 2024 home value: $154,989
• Median household income: $62,419
• Yearly optimum savings: $12,484
• 15% down payment for a house: $23,248

• Average 2024 home value: $153,410
• Median household income: $37,627
• Yearly optimum savings: $7,525
• 15% down payment for a house: $23,012

• Average 2024 home value: $152,543
• Median household income: $53,745
• Yearly optimum savings: $10,749
• 15% down payment for a house: $22,881

• Average 2024 home value: $149,331
• Median household income: $50,744
• Yearly optimum savings: $10,149
• 15% down payment for a house: $22,400

• Average 2024 home value: $148,154
• Median household income: $50,747
• Yearly optimum savings: $10,149
• 15% down payment for a house: $22,223

• Average 2024 home value: $147,980
• Median household income: $48,090
• Yearly optimum savings: $9,618
• 15% down payment for a house: $22,197

• Average 2024 home value: $144,528
• Median household income: $54,104
• Yearly optimum savings: $10,821
• 15% down payment for a house: $21,679

• Average 2024 home value: $142,342
• Median household income: $54,166
• Yearly optimum savings: $10,833
• 15% down payment for a house: $21,351

• Average 2024 home value: $141,808
• Median household income: $41,443
• Yearly optimum savings: $8,289
• 15% down payment for a house: $21,271

• Average 2024 home value: $133,804
• Median household income: $45,967
• Yearly optimum savings: $9,193
• 15% down payment for a house: $20,071

• Average 2024 home value: $129,804
• Median household income: $51,561
• Yearly optimum savings: $10,312
• 15% down payment for a house: $19,471

• Average 2024 home value: $127,143
• Median household income: $46,596
• Yearly optimum savings: $9,319
• 15% down payment for a house: $19,071

• Average 2024 home value: $125,476
• Median household income: $42,464
• Yearly optimum savings: $8,493
• 15% down payment for a house: $18,821

• Average 2024 home value: $120,442
• Median household income: $58,068
• Yearly optimum savings: $11,614
• 15% down payment for a house: $18,066

• Average 2024 home value: $117,625
• Median household income: $45,405
• Yearly optimum savings: $9,081
• 15% down payment for a house: $17,644

• Average 2024 home value: $105,519
• Median household income: $37,271
• Yearly optimum savings: $7,454
• 15% down payment for a house: $15,828

• Average 2024 home value: $88,827
• Median household income: $49,039
• Yearly optimum savings: $9,808
• 15% down payment for a house: $13,324

• Average 2024 home value: $70,920
• Median household income: $37,761
• Yearly optimum savings: $7,552
• 15% down payment for a house: $10,638

• Average 2024 home value: $63,102
• Median household income: $42,193
• Yearly optimum savings: $8,439
• 15% down payment for a house: $9,465

• Average 2024 home value: $56,735
• Median household income: $35,451
• Yearly optimum savings: $7,090
• 15% down payment for a house: $8,510

Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.

Methodology: For this piece GOBankingRates, looked at the 500 largest cities in terms of total households as sourced from the 2022 American Community Survey as conducted by the US Census Bureau. With these cities isolated, GOBankingRates found each city’s (1) median household income; (2) 2024 typical home value; and (3) optimal savings amount if one followed the 50/30/20 rule, where one puts 20% of one’s income into savings. With these figures GOBankingRates was able to determine where one could or could not save enough in a year for a 20%, 15%, and 10% down payment. All data was collected and is up to date as of May 20, 2024.