{"id":19387,"date":"2021-09-13T13:51:51","date_gmt":"2021-09-13T13:51:51","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=19387"},"modified":"2021-09-13T13:51:51","modified_gmt":"2021-09-13T13:51:51","slug":"supersized-down-payments","status":"publish","type":"post","link":"https:\/\/www.anthonydidonato.net\/wordpress\/supersized-down-payments\/","title":{"rendered":"Supersized Down Payments"},"content":{"rendered":"

Supersized Down Payments<\/h1>\n
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With higher home prices, home buyers also are bringing higher down payments. On average, buyers in the country’s 50 largest metro areas brought $46,283 to closing, according to a new study from LendingTree.<\/p>\n

In some areas, average down payments are much higher. For example, in San Jose, Calif., and San Francisco, the average down payment is more than $100,000\u2014the highest in the country. In San Jose, home buyers bring an average of $115,138 or 88% of the median annual household income in the area; in San Francisco, buyers bring an average of $103,016 or 90% of the area\u2019s median household income.<\/p>\n

On the other hand, Oklahoma City, New Orleans, and St. Louis have the lowest down payments in the country at $28,267, $29,371, and $29,958, respectively.<\/p>\n

Nationwide, down payments on a home amount to about 62% of a given area\u2019s median yearly household income, according to LendingTree.<\/p>\n

View the chart below for a breakdown of the average down payments on homes across the 50 largest metros.<\/p>\n

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