How Much Money Do You Need for a Home Down Payment?

Post featured image

Did you know that the median home down payment with financing in Q4 2017 was $18,000? This is down from a record high $19,100 in the previous quarter but up 20 percent from $14,950 in Q4 2016. If you are looking to buy a home, do you know how much home down payment you will need? Many factors come into play but one major factor depends where you are looking. ATTOM Data Solutions crunched the numbers in those major metro areas to find out how much you will need to get that dream home.

If you are looking to buy in one of the metro areas below, you are in luck because you may already have the money:

MSATop 5 MSAs with the lowest median down payment
Youngstown-Warren-Boardman, OH-PA$1,341
Albany-Schenectady-Troy, NY$1,520
Augusta-Richmond County, GA-SC$3,258
Kingsport-Bristol-Bristol, TN-VA$3,297
Hickory-Lenoir-Morganton, NC$3,505

However, if you are looking to buy in one of these metro areas below, you may have a bit more saving to do:

MSATop 5 MSAs with the highest median down payment
San Jose-Sunnyvale-Santa Clara, CA$268,000
San Francisco-Oakland-Hayward, CA$174,500
Santa Rosa, CA$123,450
Los Angeles-Long Beach-Anaheim, CA$119,800
Oxnard-Thousand Oaks-Ventura, CA$107,000

Didn’t see your area above? Want to know what to expect when you are ready to buy?

Contact ATTOM Data to see how you can acquire the full dataset!

Please contact us if you have questions about the underlying data referenced in this article, or would like to have access to that data in the form of custom reports, API or bulk files.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *