The median down payment in San Francisco is higher than the median home price in 44 other large U.S. cities, according to a new study by Point2, an online real estate marketplace. Home prices are over the million-dollar mark in San Francisco and Fremont, Calif., and home buyers are bringing higher down payments to close.
The following are the cities where home buyers are making the largest down payments on a home sale.
Fortunately, many buyers don’t have to bring such large amounts to closing. The median down payment was 7.7% of the median sales price for homes purchased with financing during the fourth quarter of 2020,according to ATTOM Data Solutions, a real estate data firm. That translates to about $24,500.
