Phoenix residents need longer than U.S. average to save for a home
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It took Valley households a year longer than the national average to save for a median home down payment in 2025, according to a Realtor.com analysis.
Why it matters: Coming up with a down payment is one of the biggest barriers to homeownership.
By the numbers: Phoenix-area households saved for nearly eight years, compared to nearly seven years for the U.S. average.
- The median down payment for the Valley was $36,380, while median household income was $90,558.
- Aspiring Tucson homeowners had it far easier — Old Pueblo households needed 4.7 years for a median down payment of $17,773, which was among the shortest times of the 50 largest metro areas analyzed by Realtor.com.
State of play: Although the average national timeline has shortened from 12 years in 2022, it remains roughly double the pre-pandemic norm, per the analysis.
- "Higher home prices and intensified competition have pushed typical down payments higher, at the same time that inflation and rising household expenses have reduced savings rates," said Realtor.com chief economist Danielle Hale in a news release.
- The median down payment was $30,400 in the third quarter of 2025, up from $13,900 six years earlier.
The big picture: In expensive coastal cities, including San Francisco, San Diego and New York, it can take middle-income households decades to save for a down payment, the real estate site found.
- Meanwhile, some Southern cities and military hubs offer faster paths.
- San Antonio saw the shortest time to save, averaging 1.3 years.
The bottom line: The share of first-time buyers in the U.S. has fallen to a record low as inventory and affordability issues persist, according to the National Association of Realtors.
- Many younger people are tapping family money to get a foot in the door.