The median down payment in the first quarter of 2024 was an average of 13.6% and median of $26,000 from a report released by Realtor.
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The median down payment in the first quarter of 2024 was an average of 13.6% and median of $26,000 from a report released by Realtor.
Home prices vary across all of the U.S. States, this makes the down payment to purchase a home, also vary substantially across the United States. This map shows the median down payment in each state as well as a percentage of the median home sale price as of April 2024.
| State | Abv. | Median Down Payment | Median Down Payment Percentage |
|---|---|---|---|
| Hawaii | HI | 205,000 | 26.15% |
| District of Columbia | DC | 170,850 | 24.41% |
| Alabama | AL | 57,175 | 20.61% |
| Delaware | DE | 70,000 | 20.02% |
| Kansas | KS | 50,000 | 18.76% |
| Oregon | OR | 95,300 | 18.55% |
| Massachusetts | MA | 115,000 | 18.12% |
| South Dakota | SD | 56,950 | 18.02% |
| California | CA | 153,000 | 17.95% |
| New Hampshire | NH | 86,625 | 17.92% |
| New Jersey | NJ | 91,000 | 17.86% |
| Nevada | NV | 80,000 | 17.72% |
| Colorado | CO | 106,900 | 17.13% |
| North Carolina | NC | 64,000 | 16.94% |
| New Mexico | NM | 59,291 | 16.80% |
| Arizona | AZ | 74,000 | 16.27% |
| Washington | WA | 106,290 | 16.24% |
| Connecticut | CT | 68,100 | 16.11% |
| Indiana | IN | 39,528 | 15.44% |
| Rhode Island | RI | 73,803 | 15.27% |
| Virginia | VA | 67,116 | 14.64% |
| Maryland | MD | 61,675 | 14.35% |
| Florida | FL | 60,000 | 14.22% |
| Maine | ME | 52,550 | 13.43% |
| New York | NY | 70,000 | 12.98% |
| Pennsylvania | PA | 37,000 | 12.96% |
| Tennessee | TN | 48,868 | 12.61% |
| Minnesota | MN | 44,823 | 12.55% |
| Wisconsin | WI | 37,161 | 11.79% |
| Utah | UT | 65,002 | 11.57% |
| South Carolina | SC | 43,947 | 11.39% |
| Vermont | VT | 48,534 | 11.31% |
| Nebraska | NE | 31,950 | 11.13% |
| Ohio | OH | 26,400 | 11.06% |
| Georgia | GA | 40,725 | 10.84% |
| Missouri | MO | 28,250 | 10.83% |
| Illinois | IL | 30,000 | 10.13% |
| Kentucky | KY | 26,011 | 10.11% |
| Oklahoma | OK | 23,731 | 9.87% |
| Iowa | IA | 21,987 | 9.49% |
| Idaho | ID | 42,509 | 8.90% |
| Arkansas | AR | 22,625 | 8.82% |
| Michigan | MI | 22,097 | 8.64% |
| North Dakota | ND | 23,600 | 8.55% |
| Louisiana | LA | 19,500 | 7.67% |
| Montana | MT | 38,131 | 7.36% |
| Wyoming | WY | 30,000 | 6.41% |
| West Virginia | WV | 16,733 | 6.17% |
| Alaska | AK | 19,533 | 5.31% |
| Texas | TX | 12,500 | 3.55% |
| Mississippi | MS | 8,061 | 3.36% |
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The amount of down payment required for a home in the United States varies based on the type of the mortgage that you will use to finance the purchase. If you purchase your home with a VA or USDA loan you could purchase a home with 0% down payment. The lowest down payment on a conventional loan type would be 3%. It is important to take into consideration the cost of mortgage insurance which will be required on conventional loans with a down payment less than 20%.
| Loan Type | Minimum down payment required |
|---|---|
| Conventional | 3% |
| FHA | 3.5% (with a credit score of at least 580); 10% with a credit score of 500-579) |
| VA | 0% |
| USDA | 0% |
| Jumbo | 5-10% |
| Second homes or investment properties | Varies |