The average down payment for a house is 20%.
How long will it take you to save in order to afford a home? We calculated how many years it takes to save enough for a down payment in the 100 largest U.S. metro areas, factoring in both local average wages from the Bureau of Labor Statistics’s Quarterly Census of Employment and Wages and local housing prices based on the median asking price per square foot of homes listed on Trulia.
Continue reading… “How long will you need to save for a down payment on a home in your city?”
