Realtor.com showed how much buyers would need to save each day to make the down payment
…assuming home prices would not change over time.
To make the goal within five years, they found a buyer would need to save $104.46 each day.
Location, Location, Location…
A San Francisco home buyer would need to save the equivalent of about 23 Starbucks Grande Caramel Macchiatos ($4.45) a day.
Prospective home buyers looking to save a down payment within 10 years would need to save $52.23 per day.
By comparison, Home buyers in the Los Angeles market would have to save $67.95 per day for five years to make the average down payment on a median price home. Meanwhile, home buyers in New York would need to save $38.99 a day for five years.
Several metropolitan areas remain bargains by comparison, where home buyers can save up less then $20 a day to acquire the average down payment in five years.
These cities are bargains compared to Major US Metropolitan Areas