How Much Do You Need for a Down Payment on a Home in Colorado?

If you want to buy a home in the state of Colorado, chances are, you are going to need a down payment. In 2024, you are going to need quite a chunk of change for a down payment too.

Voronoi has released data showing how much you will need on average for a down payment on a home state by state. Now, we are not surprised to see that Colorado ranks as one of the top states with the most expensive down payments to purchase a home in the United States. What did throw us for a loop is how much money you could need to be able to pull off purchasing a home in the state of Colorado.

According to Voronoi, the average down payment for a home in the state of Colorado is $75,300. Of course, that all depends on the type, price, and size of a home in the state of Colorado. Colorado ranked as the seventh most expensive state in the nation when it comes to down payments on homes.

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Massachusetts, California, Washington, Florida, Hawaii, and Washington D.C. all ranked more expensive than the state of Colorado. Washington D.C. was the most expensive with an average down payment of $98,700.

Not every state in the nation is as expensive, however. Head into the deep south and the prices seem much more reasonable. Alabama's average price for a down payment on a home is $8,800. Head to the west in Mississippi and the average price for a down payment on a home is the cheapest in the nation. Mississippi's average down payment is only $5,800.

To see the average down payment prices of homes by state, visit voronoiapp.com.