Saving for a down payment takes years in Tampa Bay

Zoom in: The median down payment in Tampa Bay is $26,320, while the median salary is about $78,256. The average annual savings rate for U.S. households is 5.1%, which in Tampa Bay translates to about $3,965.

• That leaves a wait time of 6.6 years — roughly the national average.

Zoom out: Although the average 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 in the U.S. was $30,400 in the third quarter of 2025, up from $13,900 six years earlier.

The big picture: In expensive coastal metros, 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.

• 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.