Typical US down payment fell to $27,100 in Q2, lowest since 2021

• The typical down payment in the second quarter was $27,100, or 13.7% of the purchase price.
• This is the lowest second-quarter down payment level since 2021.
• The typical down payment share fell 0.6 percentage points year over year.
• Active listings rose 3.6% year over year in August.
• Median list prices fell 1.3% in August, marking the 10th consecutive month of declines.
• The estimated monthly principal-and-interest payment in August 2026 was $2,376.

Homebuyers put down a typical $27,100 in the second quarter, the lowest second-quarter level since 2021, according to Realtor.com’s second-quarter Down Payment Report. This represented 13.7% of the purchase price, down from 14.3% a year earlier.

The decline in the typical down payment share was attributed to increased inventory, which has given buyers more negotiating room, while higher mortgage rates continue to weigh on affordability. "Buyers have gained some negotiating room, while higher mortgage rates remain the biggest factor shaping monthly affordability," said Hannah Jones, senior economist at Realtor.com.

Seasonally, down payments rose from the first quarter to the second quarter, reaching $27,100 (13.7%) from $25,000 (12.9%). However, this was still below the $29,900 recorded in the second quarter of 2025. In July, the typical down payment reached $28,800 (14.0%), but remained 7.5% below 2025 levels in dollar terms.

Active listings increased by 3.6% year over year in August, while median list prices decreased by 1.3%, the tenth consecutive month of declines. These conditions have provided buyers with more time and leverage. The estimated monthly principal-and-interest payment in August 2026 was $2,376, a significant increase from $1,364 in August 2021, despite a lower mortgage rate in 2021 (2.88% vs. 6.76% in 2026). The median listing price in August 2026 was $424,500, up from $375,000 in August 2021.

Down payment shares varied by market, with higher percentages in expensive markets like Hartford (20.4%) and Boston (21.7%), and lower percentages in softer markets like Austin (13.9%) and Tucson (10.2%). The Northeast region had the highest average down payment share in the second quarter at 18.1%, followed by the West (15.2%), Midwest (14.2%), and South (11.9%). All regions saw year-over-year declines.