average for down payments is 13.8% of the home price, they will vary for each market. Here's a look at the 15 most expensive real estate markets, based on the median cost for a typical down payment on a home.
Generally, PMI will cost between $30 and $70 per month for every $100,000 you borrow, according to Freddie Mac. This might suggest that fewer people can afford an upfront down payment of 20% for a home, which is a common benchmark since it allows homeowners to avoid paying private mortgage insurance each month. That's a slight decrease from 14.7% for the same time period in 2022, although more cash was put into down payments overall in 2023.
