According to new data out from CoreLogic, the average U.S. home down payment reached an all-time high last Fall, reaching a record high in October 2023. Homebuyers’ average down payments were up by 8 percent year-over-year in December 2023 at an average of 16 percent—equaling about $84,000.
The average down payment for low-tier homes (those priced at less than 75 percent of the median sales price) was $29,987, up from $27,011 annually. The average down payment amount for middle-tier homes priced between 75-125 percent of the median sales price was $56,371 in December.
The average down payment for high-tier homes—those priced at more than 125 percent of the median sales price—was $143,681 in December, up from $133,340 annually and accounting for around 21 percent of the price.
Down payment percentages were highest in San Francisco (29 percent), San Jose (28 percent), Anaheim (27 percent) and New York (26 percent).