Real data on how much Americans put down on homes. Average down payment by state, age group, buyer type, and loan program.
| Buyer Type | Avg Down Payment % | Dollar Amount | On $350,000 Home |
|---|---|---|---|
| All Buyers | 19% | $66,500 | $350,000 |
| First-Time Buyers | 10% | $35,000 | $350,000 |
| Repeat Buyers | 23% | $80,500 | $350,000 |
| FHA Borrowers | 3.5% | $12,250 | $350,000 |
| VA Borrowers | 0% | $0 | $350,000 |
| Conventional (PMI) | 5-19% | $17,500-$66,500 | $350,000 |
| Conventional (No PMI) | 20%+ | $70,000+ | $350,000 |
| Jumbo Loan Buyers | 25-30% | $208,000-$250,000 | $832,750 |
| Age Group | Avg Down % | Dollar Amount | Notes |
|---|---|---|---|
| 22-31 (Gen Z) | 8% | $28,000 | First-time buyers |
| 32-41 (Millennials) | 10% | $35,000 | Mix of first/repeat |
| 42-56 (Gen X) | 15% | $52,500 | More equity from prior home |
| 57-66 (Boomers) | 22% | $77,000 | Downsizing, cash-rich |
| 67-76 (Silent) | 28% | $98,000 | Often all-cash purchases |
| All Cash Buyers | 100% | $350,000 | 26% of all purchases |
| Source | % of Buyers Using | Notes |
|---|---|---|
| Personal Savings | 61% | Most common source |
| Sale of Previous Home | 38% | Repeat buyers |
| Gift from Family | 23% | Common for first-timers |
| 401k/IRA Withdrawal | 8% | Penalty may apply |
| Down Payment Assistance | 5% | State/local programs |
| Loan from Family | 4% | Must be disclosed |
| Second Mortgage/HELOC | 3% | Piggyback loans |
The median down payment is 19% of the purchase price. First-time buyers put down a median 10%, while repeat buyers put down 23% (NAR 2025 Profile). You do not need 20% down to buy a home.
Yes. Conventional loans allow 3% down for first-time buyers. FHA loans require 3.5% down. VA and USDA loans offer 0% down for eligible borrowers. Lower down payments mean PMI costs of $100-$300/month.
Saving 10% down on a $350,000 home ($35,000) takes the average household (saving $800/month) about 3.6 years. Saving 20% ($70,000) takes about 7.3 years at the same rate.
No. Only 32% of buyers put 20%+ down. The main advantage of 20% is avoiding PMI ($100-$300/month). Many buyers choose lower down payments to buy sooner and invest the difference.