Study: Austin homebuyers need six years to save for typical down payment

Austinites need to save for six years to afford the typical $109,800 down payment on a single-family home, according to recent data from the real estate technology firm RealtyHop. That six-year wait was calculated based on the area’s median household income ($91,461) and median home price of $549,000, based on the company’s home listings in the third quarter of 2024. The study found Austin had the 40th-longest saving period of the 100 metro areas studied, with Dallas ranking 31st for its 6.33 years of wait time. Houston came in 45th with 5.8 years, with Arlington’s 5.35 years giving it the 58th spot and Irving’s 5.02 years ranking 66th. Would-be homebuyers in Plano (67th), El Paso (69th), Corpus Christi (73rd), San Antonio (76th), Fort Worth (79th), Garland (81st), Laredo (89th) and Lubbock (95th) all could expect to need less than five years to save for a typical down payment on homes in those markets.