Saving for a 20% down payment on your own can be challenging, but choosing a condo apartment could accelerate your savings timeline. Assuming an average savings balance of $20,540 and an annual savings rate of 10%, it would take a solo buyer less than 10 years to accumulate the 20% down payment in 45 cities.
| City | Median Condo Price | 20% Down Payment | Median Income | ||
|---|---|---|---|---|---|
| 1 | Winston-Salem, NC | $171,900 | $34,380 | $40,233 | 3.4 |
| 2 | Cleveland, OH | $179,000 | $35,800 | $42,245 | 3.6 |
| 3 | San Antonio, TX | $184,000 | $36,800 | $45,786 | 3.6 |
| 4 | Tallahassee, FL | $178,400 | $35,680 | $41,443 | 3.7 |
| 5 | Houston, TX | $227,400 | $45,480 | $50,568 | 4.9 |
| 6 | St. Louis, MO | $220,000 | $44,000 | $45,969 | 5.1 |
| 7 | Indianapolis, IN | $230,600 | $46,120 | $48,979 | 5.2 |
| 8 | Cincinnati, OH | $223,000 | $44,600 | $45,260 | 5.3 |
| 9 | Hartford, CT | $255,600 | $51,120 | $53,898 | 5.7 |
| 10 | Syracuse, NY | $247,400 | $49,480 | $49,589 | 5.8 |
| 11 | Colorado Springs, CO | $264,900 | $52,980 | $54,819 | 5.9 |
| 12 | Louisville, KY | $224,700 | $44,940 | $41,544 | 5.9 |
| 13 | New Orleans, LA | $211,700 | $42,340 | $36,673 | 5.9 |
| 14 | Rochester, NY | $239,700 | $47,940 | $45,778 | 6.0 |
| 15 | Dallas, TX | $276,600 | $55,320 | $55,876 | 6.2 |
| 16 | New Haven, CT | $262,700 | $52,540 | $51,470 | 6.2 |
| 17 | Detroit, MI | $240,000 | $48,000 | $43,871 | 6.3 |
| 18 | Chicago, IL | $282,200 | $56,440 | $55,118 | 6.5 |
| 19 | Washington, DC | $370,800 | $74,160 | $81,917 | 6.5 |
| 20 | Atlanta, GA | $292,300 | $58,460 | $55,072 | 6.9 |
| 21 | Jacksonville, FL | $275,000 | $55,000 | $48,925 | 7.0 |
| 22 | Philadelphia, PA | $283,700 | $56,740 | $51,259 | 7.1 |
| 23 | Virginia Beach, VA | $279,400 | $55,880 | $49,547 | 7.1 |
| 24 | Baltimore, MD | $307,600 | $61,520 | $56,875 | 7.2 |
| 25 | Portland, OR | $325,500 | $65,100 | $60,464 | 7.4 |