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).