Report: 14 Years Needed to Save for a Downpayment – NMP Skip to main content

Report: 14 Years Needed to Save for a Downpayment

Jun 11, 2019
Photo credit: Getty Images/ConstantinosZ

Homebuyers earning the median income who are trying to accumulate funds for a downpayment will need to set aside 14 years in order to reach the 20 percent threshold on a median priced home, according to the 2019 Home Affordability Report published by Unison.
 
Within the nation’s eight least affordable cities, the saving period will take 30 years or more: Boston (30 years), San Jose and San Diego (31), Miami and Manhattan (36), Honolulu and San Francisco (40) and Los Angeles (43). On the flip side, the time needed to save for a downpayment is much lower in Louisville, Indianapolis, Kansas City, Columbus (12 years each), Wichita (11 years) and Detroit (seven years).
 
“The way things are going, an entire generation of Americans may be approaching retirement before they can securely own a home or be forced to take on more risk than they can reasonably afford in order to realize their dream of homeownership,” said Unison CEO Thomas Sponholtz. “This is a societal and economic problem that impacts all income levels and can only be addressed through massive infrastructure investments and rapid adoption of smarter and safer non-debt-based finance and homeownership solutions.”

 
About the author
Published
Jun 11, 2019
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026
PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Oct 09, 2026
Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Oct 09, 2026