Typical down payments stayed flat in Q3, with affluent buyers driving upper-tier sales
Down payments for United States homebuyers held steady in the third quarter of 2025, even as high prices and mortgage rates continued to sideline many would-be purchasers.
According to Realtor.com's latest Down Payment Report, the median down payment for a primary residence was $30,400. That's just $500 more than the previous quarter and virtually unchanged from a year ago.
The average down payment share hovered at 14.4% of the purchase price, indicating a market in which affordability pressures and limited inventory have kept conditions challenging for most buyers.
“Down payments remain elevated but steady, reflecting the broader housing environment,” Danielle Hale, chief economist at Realtor.com, said.
“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.”
The data underscores a shift that has been building since the pandemic.
The typical down payment is now 117.9% higher than in Q3 2019, when buyers put down $13,900, reflecting both a 45% jump in home prices and a larger share of cash at closing.
Down payments surged between 2020 and 2022 as buyers competed fiercely for limited listings, then stabilized at 14% to 15% of purchase price. Despite a cooler market, financially strong buyers have kept down payments in the upper $20,000 to low $30,000 range.
FICO scores for homebuyers remained at a decade high, with the typical score at 735—about 20 points above the national average. This trend highlights how today’s market continues to favor buyers with robust financial profiles.
“Through the first seven months of 2025, sales of homes priced above $750,000 rose nearly 6% from a year ago, while lower-priced sales declined about 3%,” the report found.
“That shift means expensive homes now account for a larger share of activity, while entry-level home sales continue to lag behind.”
Regional disparities also persisted. The Northeast posted the highest average down payment percentage at 18.2% and a median down payment of $62,900, up 5.6% year over year.
The Midwest followed with 14.5% and $28,000, while the West and South saw both percentages and dollar amounts decline.
Compared to 2019, the Northeast’s median down payment has surged to nearly 2.5 times its previous level.
“As mortgage rates edge lower, we expect more variety in who can buy, and that could bring back smaller down payments,” said Hannah Jones, senior economic research analyst at Realtor.com.
“However, unless inventory grows meaningfully, renewed competition could put upward pressure on prices and down payments once again.”
The ongoing imbalance between supply and demand has always been a key factor shaping the market. Lenders are tightening standards and borrowers are increasingly turning to creative financing strategies to bridge affordability gaps.
The persistence of high down payments and FICO scores suggests that, for now, the market remains tilted toward those with greater financial resources.
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