The Lowdown on High Down Payments

May 06, 2015 - 2 Min read
Realtytrac Staff
Real Estate Expert

The credit tightening that came in the aftermath of the housing and financial crises of 2007 and 2008 meant higher down payments. As the U.S. economy has come inching back, more and more homebuyers have been able to meet the higher down requirements.

As a result, one indicator of where the economic rebound is strongest is revealed in a new report from RealtyTrac®, the nation’s leading source for comprehensive housing data. By comparing median sales prices and average down payments in U.S. counties with populations of more than 100,000, RealtyTrac determined which counties have the highest average down payments.

This report includes single-family homes, condos and townhouses purchased in 2014 with conventional and HFA loan amounts of $1,000 to $1 million.

The top county was New York, with an average down payment of 37 percent, followed by San Francisco, with 30 percent. Here are the report’s top 15 counties.


County, State Population Total Loans in 2014 Median Home Prices (Dec. 2014)  Average Down Payment (Percent) Average Down Payment (Amount)
New York, N.Y. 1,596,735 2,057 $935,000 37.18% $347,614
San Francisco, Calif. 807,755 3,742 $1,018,000 30.01% $305,467
San Mateo, Calif. 721,183 4,951 $825,000 28.46% $234,779
Kings, N.Y. 2,512,740 2,651 $580,000 28.20% $163,537
Marin, Calif. 252,759 2,296 $864,500 27.81% $240,432
Queens, N.Y. 2,235,008 3,813 $419,500 25.86% $108,486
Santa Clara, Calif. 1,788,393 12,551 $690,000 25.47% $175,738
Maui, Hawaii 154,937 753 $579,000 25.09% $145,299
Santa Cruz, Calif. 262,340 1,511 $590,000 23.78% $140,283
Orange, Calif. 3,021,840 20,597 $566,000 23.64% $133,825
San Luis Obispo, Calif. 270,121 2,250 $430,000 23.28% $100,101
Westchester, N.Y. 950,227 2,183 $490,000 23.16% $113,476
Sonoma, Calif. 483,456 3,710 $440,000 22.60% $99,459
Collier, Fla. 323,548 5,325 $235,000 22.54% $52,977
Hawaii, HI. 185,399 745 $332,500 22.48% $74,747


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