Number of years needed to save for down payment in selected U.S. cities 2020
Considering the median household income and median home price, prospective house buyers in the 15 most expensive cities in the United States in 2020 would need between six and ten year for a 20 percent mortgage down payment if they save one fifth of their monthly income. If they save eight percent of their income, then home buyers in Los Angeles, CA, would need roughly 25 years.
