Median down payment on a house in the USA

With the median home price in the US at $416,700 — the median down payment is 15.36% — which is a down payment of $64,000.

Since the median price of a home is anywhere from $200K to $800K depending on the state, it is important to see a breakdown of the median down payment on a state-by-state basis.

Table of contents

• Median state-by-state down payment
• Down payment by Generation
• Sources of down payment money

Median down payment state-by-state breakdown

The down payment on a home in the US varies on a state-by-state basis. Hawaii has the highest median down payment at $205,000 or 26.16% of the median home price — which was $783,700 in August 2024.

Mississippi has the lowest median down payment at $8,061 or 3.15% of the August 2024 median home price which was $256,300.

what is the median down payment by generation?

Although the median national down payment in the US is significantly higher than the minimum required to purchase a home, particularly for first-time buyers, it also reflects contributions from many older generations.

While older generations provide a larger median down payment — they are also purchasing larger homes. Those aged 25-30 purchase homes with a median sq ft of 1,700 — compared to the overall median sq ft of 1,860 across all age groups according to the NAR.

Sources of finance for a down payment

Savings are the top source of financing for a down payment across all generations, accounting for 54% of all buyers. The next most popular source is the proceeds from home sales, which make up 37% of all buyers. However, for those aged 25 to 33, the second most common source of financing is receiving a gift from a relative or friend.

Source: AATOM; NAR