Housing Market - Redfin

Housing Market

Affordability

The Typical Homebuyer’s Down Payment Is $56,000, Up 24% From a Year Ago

Over one-third of home purchases in February were made in all cash—not far from the record high. The median down payment for U.S. homebuyers was $55,640 in February. That’s up 24.1% from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022.  The typical homebuyer’s down payment last month was equal to […]
Affordability

The Typical Household Earns Roughly $30,000 Less Than Needed to Afford the Median-Priced Home—But That’s an Improvement From Last Year

Buyers need to earn $114,000 to afford the typical U.S. home—35% more than the typical household makes. But that’s an improvement from October, when buyers needed to earn a record $121,000—51% more than the median household income. Mortgage rates have come down from their recent peak, giving buyers a bit more purchasing power, but affordability […]
Scroll to Top