To afford a monthly mortgage payment, middle-class Americans need to put more than $127,000 down
Forty-three percent of last year’s home buyers used a gift from family or friends to help with their down payment, the most since at least 2018
SEATTLE, June 20, 2024 /PRNewswire/ — To comfortably afford a typical U.S. home, a home buyer making the median income needs to put down nearly $127,750, or 35.4%, a new Zillow® analysis shows. Five years ago, when mortgage rates were hovering just above 4% and the typical home was worth about 50% less, that home would have been affordable with no money down.