Saving to buy a home is tough — but in some cities, it’s nearly impossible.
A recent Realtor.com analysis found that it now takes the typical U.S. household seven years to save for a typical down payment — that’s down from a high of 12 years in 2022. However, there are still many metro areas where the rise in median home prices is far outpacing median incomes — and in some cities, it would take the average household over 20 years to afford a typical down payment, based on a personal savings rate of 5.1%.
