This statistic shows the number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status. In 2019, the typical first-time home buyer in Orlando, Florida needed 12.4 years to repay student loans and save ten percent of their income to put towards a down payment, whereas they only needed 8.7 years if they had no student debt.
Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status
The source looked at typical potential first-time home buyers with the following characteristics:
-between 24 and 44 years old
-earning the national average income of 65,879 U.S. dollars annually
-with the national average of 17,938 U.S. dollars in student debt
Profit from the additional features of your individual account
Currently, you are using a shared account. To use individual functions (e.g., mark statistics as favourites, set
statistic alerts) please log in with your personal account.
If you are an admin, please authenticate by logging in again.
Learn more about how Statista can support your business.
Redfin. (May 31, 2019). Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/
Redfin. "Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status." Chart. May 31, 2019. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/
Redfin. (2019). Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/
Redfin. "Number of Years First-time Homebuyers Need to save for down Payment in Selected Metros in The United States in 2019, by Student Debt Status." Statista, Statista Inc., 31 May 2019, https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/
Redfin, Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status Statista, https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/ (last visited July 22, 2024)
Number of years first-time homebuyers need to save for down payment in selected metros in the United States in 2019, by student debt status [Graph], Redfin, May 31, 2019. [Online]. Available: https://www.statista.com/statistics/1014182/student-debt-down-payment-first-time-home-buyers-usa/
