Saving for a home down payment has become a moving target. As rising home prices outstrip wage growth, the amount of time buyers may need to set aside enough money has changed sharply in many parts of the country. In some states, rising incomes have helped offset higher home values. In others, buyers may face a substantially longer path to ownership than they did just one decade ago.
States Ranked by Change in Time Needed to Save for a Home Down Payment
According to a SmartAsset analysis, the top 5 states with the largest increase in time needed to save for a home down payment are Idaho, Rhode Island, New Hampshire, Maine, and Utah. The analysis compared typical home values in each state in 2016 and 2026 with median household income to estimate how many years of savings would be required to afford a 20% down payment.
The estimate is a point-in-time affordability measure and does not model income growth or investment returns during the saving period. This approach allows for a consistent state-by-state comparison of how current home values and incomes affect the relative burden of saving for a down payment.
Original reporting: KTVZ (Central Oregon) — read the source article.
