How much to save every day to buy a house in the US
Buying a home is not a cheap pleasure.
The Realtor.com portal simplified the task and independently calculated how much it is necessary to save every day in order to ultimately purchase your own home in one of the largest US cities 15.
The company took as a basis the average market price for real estate in each of the cities. Using these figures, the company calculated the down payment.
Then we figured out how much potential buyers should save every day for the down payment. As a rule, they took five and 10-year target dates.
Specialists also determined how many caramel macchiato should be saved per day for the sake of the house. The price of one such drink is $ 4,45.
1. New York, NY
The median price of the house: $ 413900
Average advance payment: 17,2% ($ 71191 at Average House Prices)
Daily Savings (5 years): $ 38.99
Daily Savings (10 years): $ 19,49
2. Los Angeles, CA
The median price of the house: $ 678000
Average advance payment: 18,3% ($ 124074)
Daily Savings (5 years): $ 67,95
Daily Savings (10 years): $ 33.97
3. Chicago, Illinois
The median price of the house: $ 264900
Average advance payment: 13,4% ($ 35,496.60)
Daily Savings (5 years): $ 19,44
Daily Savings (10 years): $ 9,72
4. Dallas, TX
The median price of the house: $ 333400
Average advance payment: 13,6% ($ 45,342.40)
Daily Savings (5 years): $ 24.83
Daily Savings (10 years): $ 12,42
5. Houston, state Texas
The median price of the house: $ 334900
Average advance payment: 12,7% ($ 42,532.30)
Daily Savings (5 years): $ 23.29
Daily Savings (10 years): $ 11.65
6. Philadelphia, PA
The median price of the house: $ 235000
Average advance payment: 12,1% ($ 28435)
Daily Savings (5 years): $ 15,57
Daily Savings (10 years): $ 7.79
7. Washington DC
The median price of the house: $ 439900
Average advance payment: 12,6% ($ 55,427.40)
Daily Savings (5 years): $ 30,35
Daily Savings (10 years): $ 15,18
8. Miami, FL
The median price of the house: $ 350 000
Average advance payment: 14,1% ($ 49,349.99)
Daily Savings (5 years): $ 27,03
Daily Savings (10 years): $ 13.51
9. Atlanta, GA
The median price of the house: $ 269900
Average advance payment: 10% ($ 26990)
Daily Savings (5 years): $ 14,78
Daily Savings (10 years): $ 7.39
10. Boston, Massachusetts
The median price of the house: $ 449900
Average advance payment: 16,4% ($ 73,783.59)
Daily Savings (5 years): $ 40,41
Daily Savings (10 years): $ 20,20
11. San Francisco, CA
The median price of the house: $ 875000
Average advance payment: 21,8% ($ 190750)
Daily Savings (5 years): $ 104,46
Daily Savings (10 years): $ 52,23
12. Detroit, Michigan
The median price of the house: $ 200 000
Average advance payment: 12% ($ 24 000)
Daily goal savings (5 years): $ 13,14
Daily goal savings (10 years): $ 6.57
13. Phoenix arizona
The median price of the house: $ 309000
Average advance payment: 11,9% ($ 36771)
Daily Savings (5 years): $ 20,14
Daily Savings (10 years): $ 10,07
14. Seattle, WA
The median price of the house: $ 445000
Average advance payment: 13,3% ($ 59185)
Daily goal savings (5 years): $ 32,41
Daily goal savings (10 years): $ 16,21
15. Minneapolis, MN
The median price of the house: $ 294000
Average advance payment: 11,2% ($ 32928)
Daily Savings (5 years): $ 18.03
Daily Savings (10 years): $ 9.02
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