The typical down payment in during the third quarter was $30,400, according to a new data report from Realtor.com. That sum is roughly $500 higher than the second quarter’s level and nearly unchanged from one year earlier.
During the third quarter, the average down payment share remained near 14.4% of the purchase price. But compared to the third quarter in pre-pandemic 2019 when buyers typically put down $13,900, the current median down payment is up by a staggering 117.9%.
“Down payments remain elevated but steady, reflecting the broader housing environment,” said Danielle Hale, chief economist at Realtor.com. “High prices and borrowing costs continue to test affordability, keeping many potential buyers on the sidelines and slowing overall sales activity. Even with mortgage rates easing into the low 6% range in recent months, the combination of high prices and limited inventory has left little relief for cost-sensitive home shoppers, while increasingly concentrating homebuying among higher-income households.”
Realtor.com also noted the typical homebuyer FICO score in the third quarter was 735, holding steady at its highest level in more than a decade and roughly 20 points above the national average.
