Ever wonder why they call it a “down” payment? It’s because of how depressed you feel after that giant chunk of change leaves your bank account. 💸😔 Don’t quote us, that’s just what we heard.
Plopping a down payment on a new home is standard here in the U.S. of A. 🏘️ How long does it take Americans to come up with the cash? We’ve got a fresh stack of stats. ⏬
Here’s Five Fast Facts on saving for a down payment:
- 🗓️ Reelin’ in the Years - According to recent data, Americans took an average of seven years to save for a median home down payment in 2025. That’s down from 2022’s 12 years, but still almost double what it was pre-COVID.
- ⌛ Stowin’ Away the Time - Saving for a down payment has been hard for a bunch of reasons. One main one? Home prices skyrocketed in recent years, driving down payment amounts up with them. Another reason: lower savings rates are extending the time, too.
- 💰 Up and Away - Need to nerd out with the numbers? Between September 2019 and September 2025, home prices rose a whopping 55%. Average down payments also surged during that time frame from $13,900 to $30,400.
- 👛 Cutting It Short - The golden rule of down payments is usually to shell out 20% of a home’s price. However, more and more people are cutting that short. In 2025, the average down payment hovered around 14.4%.
- 👒 Hang Your Hat - Of course, the size of your down payment (and the overall cost of your home) depends greatly on where you live. The median down payment in San Fran is a crazy $245,466. In Mississippi, it’s closer to $16K.
🔥Bottom line: How will 2026 play out for homebuyers? We’ll have to wait and see. With home prices so high, something’s gotta give. Speaking of savings, the new Trump accounts could give America’s kids a good start. Just make sure you read up on the tax rules, and you’re in luck - we have an article on that!
Saving for a down payment this year?
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