40 U.S. METROPOLITAN AREAS — U.S. homebuyers made a typical down payment of $64,000 in March 2026, which represented 15% of the home's purchase price. This down payment amount decreased by 1.5% compared to March 2025, and the percentage decreased from 16.1% in March 2025.
Cooling home prices, increased availability of low-down-payment loan products, and reduced bidding competition contributed to lower down payment amounts. Home sale prices have declined or experienced slower growth in multiple U.S. metropolitan areas. Monthly housing costs remain elevated in the U.S. housing market.
County records across 40 U.S. metropolitan areas provided the housing market data, covering home purchases made in March 2026 where buyers obtained mortgages. Some homebuyers are reallocating funds from down payments toward closing costs, moving expenses, renovations, or future mortgage payments.
Median down payment percentages reached 25% of the purchase price in San Jose, San Francisco, and Anaheim. The median down payment dollar amounts in these cities during March 2026 were $425,000 in San Jose, $422,500 in San Francisco, and $300,000 in Anaheim. In contrast, the lowest median down payment percentages were 2% in Virginia Beach, 5% in Detroit, and 6% in Las Vegas. Virginia Beach recorded the lowest median down payment dollar amount at $6,793.
Median down payment percentages decreased year over year in 18 of the analyzed metropolitan areas. Fort Lauderdale, Las Vegas, and Atlanta experienced the largest year-over-year percentage point declines in down payments. The largest year-over-year percentage point increases occurred in Tampa, Denver, and Miami.
Down payment dollar amounts decreased the most year over year in Nashville by 27%, Atlanta at 25.3%, and Las Vegas at 21.5%. However, down payment dollar amounts increased in 14 metropolitan areas. Cleveland saw the largest gain at 20.5%, Detroit an increase of 12%, and Baltimore a rise of 8.1%.
Prior to 2020, the typical down payment percentage averaged 10% for several years. This percentage fell to 7% in 2020 before reaching 20% in 2024. Down payment dollar amounts in the U.S. have doubled since 2019.