Realtor.com®: Down Payments Steady as Average FICO Scores Remain At 10-Year High

Rhea-AI Summary

Realtor.com (NWSA) reports Q3 2025 typical down payment of $30,400, about $500 above Q2 and roughly unchanged year-over-year, with the average down payment near 14.4% of purchase price. The report notes the typical buyer FICO score at 735, a 10-year high, and continued concentration of purchases among higher-income buyers. Investment and second-home buyers posted larger down payments — 26.7% and 26.9% respectively, equating to median down payments of $84,200 and $110,100. Regional patterns: Northeast highest share 18.2% (median down payment $62,900); South lowest share 12.5% (median $22,800). Data based on Optimal Blue through Q3 2025.

Positive

• Median down payment of $30,400 in Q3 2025
• Typical buyer FICO score at 735, decade high
• Second-home median down payment of $110,100

Negative

• High prices and mortgage rates continue limiting buyer pool
• Sales concentrated in higher-priced homes; >$750,000 sales up nearly 6% year-to-date
• Median down payment roughly unchanged year-over-year, signaling limited relief for affordability

Insights

Housing Economist

Q3 2025 data show down payments steady and buyer credit profiles high; affordability remains constrained.

The report shows the typical down payment was $30,400 in Q3 2025, about $500 higher than the prior quarter and roughly flat year‑over‑year, while the average down payment share stayed near 14.4%. The typical FICO score held at 735, the highest in a decade, which signals that purchases concentrate among higher‑credit, higher‑income buyers able to meet current price and lending thresholds.

These facts describe a market where elevated prices and borrowing costs limit broad affordability and shift activity toward upper‑tier sales; for example, sales above $750,000 rose nearly 6% year‑over‑year while lower‑priced sales fell about 3%. Key risks include persistent limited inventory and regional imbalances — the Northeast shows the highest down payment share at 18.2% and the largest dollar increase versus Q3 2019. Watch changes in mortgage rates drifting further into the low 6% range, regional inventory metrics, and monthly sales mix over the next 3–9 months to judge whether smaller down payments return or the market stays weighted to financially strong buyers.

10/20/2025 - 06:00 AM

Continued high prices and mortgage rates in the third quarter of 2025 kept many homebuyers on the sidelines, while higher-income buyers continued to drive upper-tier sales

AUSTIN, Texas, Oct. 20, 2025 /PRNewswire/ -- Down payments remained relatively flat in the third quarter, as the housing market continued to balance elevated costs with moderating demand. According to the latest Realtor.com^® Down Payment Report, the typical down payment in Q3 2025 was $30,400 – about $500 higher than Q2 and roughly unchanged from a year earlier. The average down payment share remained near 14.4% of the purchase price.

Historically, down payments pick up steam through the first half of the year, but 2025's gain was more modest. Between the first and third quarters, the typical down payment rose just 0.5 percentage points, or $1,500, compared with 0.8 points and $4,000 during the same period in 2024, reflecting a steadier market with stable prices and more measured buyer demand.

"Down payments remain elevated but steady, reflecting the broader housing environment," said Danielle Hale, chief economist at Realtor.com^®. "High prices and borrowing costs continue to test affordability, keeping many potential buyers on the sidelines and slowing overall sales activity. Even with mortgage rates easing into the low 6% range in recent months, the combination of high prices and limited inventory has left little relief for cost-sensitive home shoppers, while increasingly concentrating homebuying among higher-income households."

Down Payments Remain Elevated Post-Pandemic
Buyers continue to put down far more cash than before the pandemic. The median down payment of $30,400 is 117.9% higher than in Q3 2019, when buyers typically put down $13,900. That increase reflects both higher home prices, which have risen nearly 45% since 2019, and larger down payment shares.

Down payments climbed steeply between 2020 and 2022 amid more intense competition and record-low mortgage rates, then leveled off at about 14% to 15% of purchase price. While the market has cooled since then, elevated prices and financially strong buyers have kept typical down payments in the upper $20,000 to low $30,000 range.

Primary Residence	Avg Down Payment as % of Purchase Price				Med. Down Payment ($ amt)
	2022 Q3	2023 Q3	2024 Q3	2025 Q3	2022 Q3	2023 Q3	2024 Q3	2025 Q3
United States	14.0 %	14.8 %	14.5 %	14.4 %	$27,300	$30,400	$30,300	$30,400

Higher-Earning, Highly Qualified Buyers Still Dominate: FICO Scores Remain Near Decade High
The typical homebuyer FICO score was 735 in the third quarter of 2025, holding steady at its highest level in more than a decade and roughly 20 points above the national average, another sign that today's market continues to favor financially strong buyers able to navigate higher prices and tighter lending standards.

In fact, through the first seven months of 2025, sales of homes priced above $750,000 rose nearly 6% from a year ago, while lower-priced sales declined about 3%. That shift means expensive homes now account for a larger share of activity, while entry-level home sales continue to lag behind.

Buyers of investment properties and second homes continue to make significantly larger down payments as well, averaging 26.7% and 26.9% of the purchase price, respectively, nearly twice the typical share for primary residences. In dollar terms, those down payments reached $84,200 for investment properties and $110,100 for second homes.

Regional Differences Reflect Market Imbalance
Regional patterns highlight uneven market conditions in the third quarter. Average down payment percentages were highest in the Northeast (18.2%), followed by the West (16.3%), Midwest (14.5%), and South (12.5%).

All four regions saw modest declines in down payment shares compared with a year earlier. The South and West dropped furthest, each down 0.6 percentage points, while the Northeast (-0.2 points) and Midwest (-0.1 point) posted smaller decreases. These patterns align with broader housing trends, from greater inventory recovery and softer demand in the South and West to tighter supply, years of underbuilding, and continued competition in the Northeast and Midwest.

In dollar terms, the Northeast saw a median down payment of $62,900 (+5.6% year over year). The Midwest also saw a modest increase to $28,000 (+5.8%). Meanwhile, the West and South posted declines, with median down payments falling 5.6% to $51,000 and 4.4% to $22,800, respectively.

	Regional Avg Down Payment Pct
Region	2019 Q3	2024 Q3	2025 Q3	YY	vs 2019
Midwest	10.5 %	14.6 %	14.5 %	-0.1 %	4.0 %
Northeast	12.3 %	18.4 %	18.2 %	-0.2 %	5.9 %
South	9.3 %	13.1 %	12.5 %	-0.6 %	3.2 %
West	12.4 %	16.9 %	16.3 %	-0.6 %	3.9 %

 

	Regional Median Downpayment Dollars
Region	2019 Q3	2024 Q3	2025 Q3	YY	Vs 2019
Midwest	$11,400	$26,400	$28,000	5.8 %	144.7 %
Northeast	$18,200	$59,500	$62,900	5.6 %	245.9 %
South	$12,000	$23,800	$22,800	-4.4 %	90.2 %
West	$21,000	$54,000	$51,000	-5.6 %	141.7 %

Compared to 2019, the Northeast has seen the largest jump in both down payment share and down payment dollar amount. In Q3 2019, the typical buyer in the region put down 12.3% of the purchase price—nearly six percentage points lower than in 2025. Over that same period, the median down payment has surged to nearly 2.5 times its 2019 level, underscoring how rising prices, fierce competition, and stronger buyer profiles are both drivers and symptoms of shifting market dynamics in one of the nation's most costly regions.

"As mortgage rates edge lower, we expect more variety in who can buy, and that could bring back smaller down payments," said Hannah Jones, Senior Economic Research Analyst at  Realtor.com^®. "However, unless inventory grows meaningfully, renewed competition could put upward pressure on prices and down payments once again."

Methodology
Down payment trends analyzed at the national and state level through Q3 of 2025 using Optimal Blue data. Down payment as a share of sale price is calculated as an average across the data, and down payment as a dollar amount is the median across the data. All comparisons are between the third quarter of the current and previous years unless otherwise stated.

About Realtor.com^®
Realtor.com® pioneered online real estate and has been at the forefront for over 25 years, connecting buyers, sellers, and renters with trusted insights, professional guidance and powerful tools to help them find their perfect home. Recognized as the No. 1 site trusted by real estate professionals, Realtor.com® is a valued partner, delivering consumer connections and a robust suite of marketing tools to support business growth. Realtor.com® is operated by News Corp [Nasdaq: NWS, NWSA] [ASX: NWS, NWSLV] subsidiary Move, Inc.

Media contact: press@realtor.com

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SOURCE Realtor.com

FAQ

What was the typical down payment in Q3 2025 for Realtor.com (NWSA)?

The typical down payment in Q3 2025 was $30,400, about $500 higher than Q2 2025.

What down payment share of purchase price did buyers put down in Q3 2025 (NWSA data)?

Buyers put down about 14.4% of the purchase price on average in Q3 2025.

How high was the typical homebuyer FICO score in Q3 2025 reported by Realtor.com (NWSA)?

The typical homebuyer FICO score was 735 in Q3 2025, the highest in more than a decade.

How do investment and second-home down payments compare in Q3 2025 (NWSA)?

Investment buyers averaged 26.7% (median $84,200) and second-home buyers 26.9% (median $110,100).

Which U.S. region had the highest median down payment in Q3 2025 (NWSA)?

The Northeast had the highest median down payment at $62,900 and the highest share at 18.2% in Q3 2025.

Did typical down payments increase year-over-year in Q3 2025 according to Realtor.com (NWSA)?

Typical down payments were roughly unchanged year-over-year, remaining near $30,400.