10 States Where You Can Save for a Down Payment the Fastest

• Author: Margaret Hills
• Posted: 2025-11-24

Saving up for a down payment on a house can be a long process. In some states, it might take just under a decade, while in others, it could take much longer—sometimes decades.

Many people find it discouraging to save enough money for a home, but some states make this goal easier to reach.

A new study by ConsumerAffairs looked at how long it would take to save for a 10% down payment in every state. The study compared typical household incomes with average home prices, as well as local tax rates and basic living costs.

For example:
 

• In Iowa, it would take about 8.7 years to save for a 10% down payment, making it the quickest and most affordable state for homebuyers.
• In California, it would take around 25.1 years—the longest of any state.
• The average among all 50 states is about 14.4 years to save for a down payment, according to the study.

Here are the 10 states where you can save for a 10% down payment the fastest:
 

• Iowa:
  • About 8.7 years to save
  • Median household income: $75,501
  • Median home price: $247,400
• Ohio:
  • About 9.9 years to save
  • Median household income: $72,212
  • Median home price: $261,700
• Texas:
  • About 10.3 years to save
  • Median household income: $79,721
  • Median home price: $339,400
• Maryland:
  • About 10.3 years to save
  • Median household income: $102,905
  • Median home price: $439,300
• North Dakota:
  • About 10.6 years to save
  • Median household income: $77,871
  • Median home price: $298,200
• Kansas:
  • About 10.6 years to save
  • Median household income: $75,514
  • Median home price: $292,600
• Oklahoma:
  • About 10.7 years to save
  • Median household income: $66,148
  • Median home price: $252,900
• Illinois:
  • About 10.7 years to save
  • Median household income: $83,211
  • Median home price: $303,300
• Alaska:
  • About 10.9 years to save
  • Median household income: $95,665
  • Median home price: $402,800
• Indiana:
  • About 11.0 years to save
  • Median household income: $71,959
  • Median home price: $276,000

 

What Makes It Faster to Save in These States?

The main reason is that home prices are more affordable. In almost all of these states, the average home price is below the national average of $410,800 (according to the U.S. Census Bureau).

Most of these states also have household incomes close to the national average of $83,730.

However, it’s not just about income—lower home prices make a much bigger difference in how long it takes to save up.

Taxes and the cost of living also matter, since they affect how much money people have left over to put into savings.

The study found that yearly taxes can vary by as much as $15,000 between states, and the cost of basic necessities can range from the mid-$20,000s up to over $40,000 a year.

If you are considering buying a home, looking at states with more affordable housing and reasonable living costs could help you reach your goal faster.

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Need help with your down payment? Find resources and assistance here!