Down Payment on Homes Jump Nearly 25 Percent in One Year to Almost $56,000

Homebuyers are now putting up 15 percent of a home’s purchase price as downpayment, up from 10 percent a year back.

A home stands 'For Sale' in a Brooklyn neighborhood with a limited supply of single-family homes in New York, on March 31, 2021. Spencer Platt/Getty Images

Down payments made by homebuyers have increased by almost 25 percent over the past year, with buyers attempting to make as large a down payment as possible to reduce their monthly mortgage payments, according to real estate brokerage Redfin.

“The median down payment for U.S. homebuyers was $55,640 in February,” according to a March 29 press release by Redfin. “That’s up 24.1 percent from $44,850 a year earlier—the largest annual increase in percentage terms since April 2022. The typical homebuyer’s down payment last month [February] was equal to 15 percent of the purchase price, up from 10 percent a year earlier.”