2026 data · two saving rates · the years, ranked
Published July 30, 2026 · Zillow home values June 2026
How long does it take to save a down payment? Every state, ranked
Every "save for a house" plan quietly assumes a saving rate. This table uses two honest ones: the rate Americans actually average — 2.7% of income, per the Bureau of Economic Analysis — and a disciplined 10%. Divide a 20% down payment on the typical home (June 2026 Zillow values) by each, in every state, and the ranking writes itself.
The headline: at the average saving rate, a 20% down payment takes 34.6 years of saving in the median state — from 24.2 years in West Virginia to 65 in Hawaii, with 33 of 51 jurisdictions over the 30-year mark. Saving 10% instead collapses the median to 9.3 years — the two columns are the whole argument for a written savings plan. Or skip the medians and run your own number.
All 50 states + DC, ranked by years at the average saving rate
"At 2.7%" = the BEA average American saving rate. "At 10%" = a disciplined benchmark. Both applied to each state's median household income. Full methodology below the table.
| Rank | State | Years at 2.7% | Years at 10% | 20% down |
|---|---|---|---|---|
| 1 | Hawaii | 65.0 | 17.6 | $167,348 |
| 2 | California | 60.1 | 16.2 | $155,110 |
| 3 | Massachusetts | 49.9 | 13.5 | $134,573 |
| 4 | Montana | 49.8 | 13.4 | $95,223 |
| 5 | Idaho | 47.7 | 12.9 | $96,440 |
| 6 | New York | 47.5 | 12.8 | $105,189 |
| 7 | Washington | 47.2 | 12.8 | $120,661 |
| 8 | Oregon | 46.6 | 12.6 | $100,886 |
| 9 | Rhode Island | 45.1 | 12.2 | $103,416 |
| 10 | Nevada | 43.5 | 11.7 | $89,643 |
| 11 | New Jersey | 43.4 | 11.7 | $116,936 |
| 12 | Colorado | 43.3 | 11.7 | $108,687 |
| 13 | Utah | 43.0 | 11.6 | $108,338 |
| 14 | Maine | 42.6 | 11.5 | $84,821 |
| 15 | Arizona | 40.5 | 10.9 | $84,564 |
| 16 | New Hampshire | 40.0 | 10.8 | $104,589 |
| 17 | District of Columbia | 39.7 | 10.7 | $115,866 |
| 18 | New Mexico | 38.2 | 10.3 | $64,237 |
| 19 | Florida | 38.2 | 10.3 | $75,625 |
| 20 | Wyoming | 38.1 | 10.3 | $74,505 |
| 21 | Delaware | 37.5 | 10.1 | $82,450 |
| 22 | Tennessee | 37.1 | 10.0 | $67,754 |
| 23 | Connecticut | 36.8 | 9.9 | $91,085 |
| 24 | Vermont | 36.7 | 9.9 | $80,403 |
| 25 | North Carolina | 35.6 | 9.6 | $68,086 |
| 26 | Virginia | 34.6 | 9.3 | $83,984 |
| 27 | Alaska | 34.3 | 9.2 | $80,132 |
| 28 | Wisconsin | 34.0 | 9.2 | $68,456 |
| 29 | South Carolina | 33.8 | 9.1 | $61,865 |
| 30 | South Dakota | 33.6 | 9.1 | $65,124 |
| 31 | Georgia | 33.3 | 9.0 | $67,072 |
| 32 | Maryland | 32.7 | 8.8 | $87,221 |
| 33 | Minnesota | 31.1 | 8.4 | $71,377 |
| 34 | Texas | 29.6 | 8.0 | $60,600 |
| 35 | Pennsylvania | 29.5 | 8.0 | $58,820 |
| 36 | Missouri | 29.4 | 7.9 | $54,319 |
| 37 | Michigan | 28.9 | 7.8 | $53,994 |
| 38 | Arkansas | 28.9 | 7.8 | $45,732 |
| 39 | Alabama | 28.8 | 7.8 | $48,303 |
| 40 | Kentucky | 28.5 | 7.7 | $47,073 |
| 41 | North Dakota | 28.4 | 7.7 | $58,711 |
| 42 | Nebraska | 28.2 | 7.6 | $56,893 |
| 43 | Indiana | 28.0 | 7.5 | $52,453 |
| 44 | Louisiana | 27.7 | 7.5 | $43,594 |
| 45 | Illinois | 27.6 | 7.4 | $59,774 |
| 46 | Ohio | 27.5 | 7.4 | $50,300 |
| 47 | Mississippi | 27.1 | 7.3 | $39,686 |
| 48 | Oklahoma | 26.9 | 7.3 | $45,087 |
| 49 | Kansas | 26.6 | 7.2 | $50,559 |
| 50 | Iowa | 25.0 | 6.8 | $48,251 |
| 51 | West Virginia | 24.2 | 6.5 | $36,541 |
Home values: Zillow Home Value Index (ZHVI), typical home value (35th-65th percentile, smoothed, seasonally adjusted), state level, June 2026 — Zillow Research public data (zillow.com/research ↗), identical to our salary-needed table. Incomes: U.S. Census Bureau, American Community Survey 2023 1-year estimates, table B19013 (median household income by state) (census.gov ↗). Saving rate: U.S. Bureau of Economic Analysis, personal saving rate, June 2026 (2.7% of disposable personal income) (bea.gov ↗).
Download the data (CSV) — free to reuse with attribution (CC BY 4.0). Suggested citation: "FIManager analysis of Zillow ZHVI, Census ACS, and BEA saving-rate data, fimanager.app/how-long-to-save-a-down-payment-by-state."
Your timeline isn't the median
Your income, your rent, and your target home set the real number — and the same lender math that sets your price range. Run it on your own situation — free, no signup, nothing leaves your browser.
See what you can afford →Methodology — a simple model, stated honestly
What the columns measure, why the model is deliberately simple, and which way each simplification leans.
The model
Years = 20% of the typical home ÷ (median income × saving rate) — test-enforced.
The model
Years = 20% of the typical home ÷ (median income × saving rate) — test-enforced.
The down payment is 20% of Zillow's typical home value for the state (June 2026) — the same values as our salary-needed table, and our tests assert the two pages cannot disagree.
The saving is the state's median household income (Census ACS 2023) times a saving rate: BEA's 2.7% national average in the headline column, and 10% in the disciplined column. Years is simply one divided by the other; our test suite recomputes every row. And before any rate assumption: the target itself is big — 20% down equals about 11 months of the median state's entire gross household income (21 months in Hawaii).
Why the model is imperfect — and which way it leans
Five honest caveats, each with its direction.
Why the model is imperfect — and which way it leans
Five honest caveats, each with its direction.
- Prices move while you save. The table freezes June 2026 values; if homes keep appreciating, the target grows as you chase it — the years shown are understated.
- Savings can earn returns. The model banks cash with zero growth; invested savings compound — that leans the other way, making the years overstated. These first two partially offset, which is why we kept the model simple instead of pretending to know both curves.
- Gross vs. disposable income. BEA's rate is a share of after-tax income; we apply it to gross ACS income, which credits savers with more dollars than the rate implies — the years shown are, if anything, understated.
- The average isn't the aspiring buyer. The 2.7% average includes households not saving for anything; motivated buyers save harder. BEA's figure is also a national aggregate, not a median household's rate — most saving is done by higher-income households, so the typical household likely saves less than 2.7%, which again understates the years. That's exactly what the 10% column is for — read them as a range, not a verdict.
- The down payment isn't the whole bill. Closing costs, moving, and reserves come on top — the true wait is longer than either column.
FAQ
- Why does saving a down payment take decades in this table?
- Because the headline column uses the saving rate Americans actually average — 2.7% of income per the Bureau of Economic Analysis — not the rate personal-finance advice assumes. At 2.7%, a 20% down payment on the typical home takes over 30 years in 33 of 51 jurisdictions. The second column shows the same math at a disciplined 10%, where the median state drops to about 9 years. The gap between the two columns is the honest story: the down payment is achievable, but not at autopilot saving levels.
- Do I really need 20% down?
- No. Conventional loans go as low as 3% down and FHA 3.5%, at the cost of PMI and a bigger loan. 20% is the classic no-PMI benchmark, which is why this table prices it — but dividing any target by your real monthly saving gives your own timeline. Our free calculator runs the full lender math on your numbers.
- How are the years computed?
- Years = (20% of the state's typical home value) ÷ (median household income × the saving rate). Home values are Zillow's June 2026 typical home value — identical to our salary-needed table, enforced by tests. Incomes are Census ACS 2023 medians. The saving rates are BEA's 2.7% average and a 10% benchmark. The model is deliberately simple; the methodology section states which way each simplification leans.
- How long will it take me?
- Statewide medians can't see your income, rent, or target home. Divide your target down payment by what you actually bank each year — or run the full affordability math with the free calculator. No signup, and your numbers never leave your browser.
Run the numbers yourself
- What is your FI number? The formula, the 4% rule, and worked examples behind every number here.
- FI calculator Your core FI number and a rough date to financial independence.
- Coast FIRE calculator The smaller amount that grows to full FI on its own — stop saving, keep coasting.
- Barista FIRE calculator How steady part-time income shrinks the portfolio you need to semi-retire.
- Lean FIRE calculator Reach financial independence sooner on a deliberately frugal budget.
- Fat FIRE calculator Fund a no-compromises, higher-spending early retirement.
- Chubby FIRE calculator The comfortable middle band between lean and fat FIRE.
- Career change calculator What a pay cut really costs you — the change to your FI date, in years.
- Can you afford a kid? Daycare vs. one parent leaving work — the true cost in today's dollars.
- How much house can I afford? The home price and payment you can carry, on the lender 28/36 rule.
- Salary needed to buy a house, by state What a typical home takes in all 50 states — 2026 data, the same lender math.
- Rent vs. buy salary, by state The salary to rent a 2BR vs. buy the typical home — and the gap, ranked.
- Net worth percentile calculator Where your net worth ranks by age, on real 2022 Federal Reserve data.