Saving for a Starter Home Now Takes Twice as Long
NPR reports the Center for Responsible Lending’s calculation that median renters need 16 years to save a starter-home down payment and closing costs, versus eight years in 2019.
Saving for a Starter Home Now Takes Twice as Long
Renters face a 16-year target
The Center for Responsible Lending calculates that a median-income renter household now needs 16 years to save a 3.5% FHA-style down payment plus closing costs on a $335,574 starter home. That is twice the comparable 2019 estimate. The analysis says the burden is even greater for median-income Black renters, at 21 years, and assumes households can consistently save despite higher rents and living costs. The calculation understates the challenge for buyers who need a larger down payment.
Source: NPR, 22 Oct 2026.
Image: Zac Gudakov / Unsplash. Illustrative detached-house file photo; not a property priced or evaluated in the cited affordability analysis. Image usage terms.
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jajoy39
I’m Nahid Hasan Joy, a technology writer, web developer, and digital enthusiast with a strong interest in the ever-changing world of technology.
