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Mapped: The Median Down Payment for a House, by U.S. State

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See this visualization first on the Voronoi app.

A map with the median down payment on a single-family home in America, by state.

The Median Down Payment for a House, by U.S. State

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

Since housing costs vary across U.S. states, so too does the income required to buy a house, and the down payment associated with the purchase.

But how much does the median value change per state?

Creator Julie Peasley maps the median down payment on a single-family home by U.S. state, using data from Realtor.com, accessed through Bankrate, a publisher and rate comparison service focused on the banking industry.

Importantly, a “single-family home” is legally defined as a “structure used as a single-dwelling unit,” which includes:

  • No common walls
  • Built on its own parcel of land
  • Private entrance/exit
  • One set of utilities
  • Single kitchen

This means actual house square footage will vary within and across the states, affecting the median prices and down payments in this data.

The Data: Median Down Payments by State

The top three priciest places for down payments are tied for number one: Washington D.C., Florida, and Hawaii, at a whopping $98,670.

RankU.S. StateMedian Down PaymentAverage Down
Payment Percentage
1Florida$98,67017.0%
2Hawaii$98,67017.0%
3Washington, D.C.$98,67020.9%
4Washington$86,75228.6%
5California$84,24418.4%
6Massachusetts$79,20618.9%
7Colorado$75,30418.5%
8Montana$72,83321.0%
9New Jersey$71,54718.0%
10New Hampshire$71,50020.0%
11Idaho$64,98520.2%
12Oregon$55,01517.3%
13New York$50,84317.0%
14Vermont$48,53417.5%
15Connecticut$47,34218.6%
16Rhode Island$45,28516.6%
17Utah$43,48816.4%
18Delaware$40,41217.0%
19Minnesota$38,50016.1%
20South Dakota$37,63016.8%
21Georgia$35,57215.9%
22Arizona$34,07215.4%
23Nevada$33,30615.0%
24Wyoming$32,38916.0%
25North Carolina$31,86714.5%
26Virginia$29,70413.5%
27Nebraska$29,61715.4%
28Wisconsin$28,33315.0%
29Illinois$27,34814.3%
30Iowa$26,46115.5%
31Tennessee$25,96914.6%
32Maryland$25,72311.9%
33Pennsylvania$25,40213.8%
34North Dakota$24,54315.0%
35South Carolina$24,35715.1%
36Michigan$23,15314.2%
37Alaska$21,35412.2%
38Texas$18,78012.2%
39Kansas$18,32513.1%
40Missouri$17,83212.9%
41New Mexico$17,57612.6%
42Kentucky$17,54813.4%
43Maine$17,54816.0%
44Indiana$17,47712.6%
45Ohio$15,04412.3%
46Oklahoma$13,17712.3%
47Arkansas$11,99611.8%
48Alabama$8,78810.7%
49West Virginia$6,6119.2%
50Louisiana$6,4709.2%
51Mississippi$5,8149.3%
N/ANational$31,50015.0%

Note: Current as of Q3, 2023.

Ranked 4th and 5th are Washington State and California, requiring median down payments in the mid-$80,000s.

Unsurprisingly the median down payment patterns follow how expensive housing is in that particular state, which in itself is a reflection of jobs, income, population, amenities, and the desirability of the location. By looking at the median, it also cuts out the “high end” that would skew the average (mean) payment higher.

At the bottom of the list, Alabama, West Virginia, Louisiana, and Mississippi all average less than $10,000 in median down payments.

However looking at the percentage of the total value put down as a down payment in those states (10%) indicates homebuyers there tend to have longer repayment plans. This is in contrast to the median down payment in Washington, which is close to one-third of the total house value.

Work From Home and U.S. Real Estate

The U.S. housing market has seen quite an upheaval in the last few years. Between December 2019 and November 2021, house prices rose nearly 24%, the fastest rate on record. Research found that areas that were more exposed to remote work experienced higher price growth.

Following the trend of skyrocketing house prices, the national average for down payments has also more than doubled from $13,250 in Q1 2020 to $31,500 in Q3, 2023, per earlier linked Bankrate data.

Rents have also climbed significantly, pricing many young adults out of moving out of their parents homes, which in turn has fueled luxury spending with more disposable income.

On the other hand, the commercial real estate market has struggled with falling demand and higher interest rates, putting downward pressure on prices in the sector.

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This article was published as a part of Visual Capitalist's Creator Program, which features data-driven visuals from some of our favorite Creators around the world.

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Ranked: The 20 Biggest Tech Companies by Market Cap

In total, the 20 biggest tech companies are worth over $20 trillion—nearly 18% of the stock market value globally.

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A portion of the top 20 biggest tech companies visualized as bubbles sized by market cap with Apple as the biggest.

Ranked: The 20 Biggest Tech Companies by Market Cap

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The world’s 20 biggest tech companies are worth over $20 trillion in total. To put this in perspective, this is nearly 18% of the stock market value globally.

This graphic shows which companies top the ranks, using data from Companiesmarketcap.com.

A Closer Look at The Top 20

Market capitalization (market cap) measures what a company is worth by taking the current share price and multiplying it by the number of shares outstanding. Here are the biggest tech companies according to their market cap on June 13, 2024.

RankCompanyCountry/RegionMarket Cap
1AppleU.S.$3.3T
2MicrosoftU.S.$3.3T
3NvidiaU.S.$3.2T
4AlphabetU.S.$2.2T
5AmazonU.S.$1.9T
6MetaU.S.$1.3T
7TSMCTaiwan$897B
8BroadcomU.S.$778B
9TeslaU.S.$582B
10TencentChina$453B
11ASMLNetherlands$415B
12OracleU.S.$384B
13SamsungSouth Korea$379B
14NetflixU.S.$281B
15AMDU.S.$258B
16QualcommU.S.$243B
17SAPGermany$225B
18SalesforceU.S.$222B
19PDD Holdings (owns Pinduoduo)China$212B
20AdobeU.S.$206B

Note: PDD Holdings says its headquarters remain in Shanghai, China, and Ireland is used for legal registration for its overseas business.

 

Apple is the largest tech company at the moment, having competed with Microsoft for the top of the leaderboard for many years. The company saw its market cap soar after announcing its generative AI, Apple Intelligence. Analysts believe people will upgrade their devices over the next few years, since the new features are only available on the iPhone 15 Pro or newer.

Microsoft is in second place in the rankings, partly thanks to enthusiasm for its AI software which is already generating revenue. Rising profits also contributed to the company’s value. For the quarter ended March 31, 2024, Microsoft increased its net income by 20% compared to the same quarter last year.

Nvidia follows closely behind with the third-highest market cap, rising more than eight times higher compared to its value at the start of 2023. The company has recently announced higher profits, introduced a higher dividend, and reported that its next-generation GPU chip will start generating revenue later this year.

AI a Driver of the Biggest Tech Companies

It’s clear from the biggest tech companies that involvement in AI can contribute to investor confidence.

Among S&P 500 companies, AI has certainly become a focus topic. In fact, 199 companies cited the term “AI” during their first quarter earnings calls, the highest on record. The companies who mentioned AI the most were Meta (95 times), Nvidia (86 times), and Microsoft (74 times).

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