The average down payment for a home is $84,499 across the country’s 50 largest metro areas. That’s just under last year’s average of $84,983.
California is home to the three metros with the highest down payments: San Jose, San Francisco, and Los Angeles.
In San Jose and San Francisco, the average down payment is over $200,000. In Los Angeles, the average down payment is $157,557.
Average down payments top six figures in 10 metros. Rounding out the Top 10 are San Diego, Seattle, Boston, New York, Washington, D.C., Denver, and Sacramento.
Buffalo, N.Y., Oklahoma City and Virginia Beach, Va. boast the lowest average down payments at about one-third to one-quarter of the highest-priced metros: $47,976, $49,713 and $52,858, respectively.
The average down payment across the top 50 metros is about 71.48% of the area’s average annual household income.
You can find the most affordable down payments in Minneapolis, Buffalo, and Virginia Beach, where average down payments are about 50.96%, 51.97%, and 53.40%, respectively, of the average annual income.
In Los Angeles, San Francisco, San Jose, and San Diego, the average down payment is about 119% of the average annual household income.;;;;;;;;
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