Santa Barbara County Listed 3rd in Cities Requiring Largest Home Down Payments

The top 5 cities in the United States where homebuyers make the largest down payments are in California with Santa Barbara County coming in at number three, reports CNBC.

Throughout the nation down payment amounts fell relative to home prices last year, but as California homebuyers know, most down payments require at least $100,000 for a home.

The top 15 most expensive real estate markets in the United States, based on the median cost for a typical down payment, runs from over $200,000 to $80,000.

The number one location is the “San Jose-Sunnyvale-Santa Clara” market in California with a median down payment of $235,183.

Coming in second is “San Francisco-Oakland-Berkeley” at $202,575. In third place is “Santa Maria-Santa Barbara for $160,750.

The median home price in Santa Maria for 2023 is $605,000 while the median price in Santa Barbara is $1,744,000.

Coming in fourth place is “Los Angeles-Long Beach-Anaheim” for $152,275, “Santa Rosa-Petaluma” at $147,550 in fifth, and the “Oxnard-Thousand Oaks-Ventura” market for $142,800 in sixth place.

The median home price in Ventura is $880,000, and $795,000 in Oxnard while Thousand Oaks is $1,066,500.

The rest of the list included communities in Seattle, San Diego, Boston, Sacramento, and New York City.

According to a analysis of the 150 largest real estate markets for the quarter ending in September, homebuyers put down an average of 13.8% of the home price in 2023. A decrease from 14.7% for the same time the previous year, although more cash was put into down payments overall in 2023.

CNBC’s article states this might suggest that fewer people can afford an upfront down payment of 20% for a home.


Written by edhat_admin

This is an admin account for edhat that is used by the dedicated staff of

What do you think?


0 Comments deleted by Administrator

Leave a Review or Comment


  1. When interest rates jumped from 3.5% to 7.5%+ it changes EVERYTHING… When you could have qualified for a $500k loan 3 yrs ago to now, where that same loan is unattainable and the monthly mortgauge jumps from $3200 to $4400… That is not even the property tax attached. BIDENOMICS.

    • You have no understanding of economics. Pretty difficult for any administration to deal with a pandemic on a scale the world hasn’t seen in over 100 years. Considering that, the US is actually coming out of it pretty well. This is courtesy of the Biden admin. His investment in infrastructure has created jobs and economic growth that’s far better here than in Europe or China, where a property bubble and local government debts have led to deflation. A 3.5% interest on a home has been unheard, so yeah, people jumped on properties with that rare historical low.

      • Anon, there was nothing inaccurate regarding economics in Coast’s comment so I’m not sure where you get “you have no understanding of economics”. We, as in the average American, are not coming out pretty well, the wealthy are however, a sad fact of the massive amount of additional government spending that the current administration has refused to bring back to pre-pandemic levels. The refusal to reign back in spending will continue to drive inflation, further eroding the spending power of the average worker and continue to increase the wealth gap.

        • You’re referencing something completely different, per usual. You referenced the disparity between the rich and poor in the US, which sucks and I agree. The original commenter, to which I replied, was referencing the Biden administration’s economic policies. I stated that his policies are outperforming most other developed nations in light of a global pandemic.

  2. How much are starter homes in other parts of CA? Due to topography & infrastructure limitations, for SAFETY reasons coastal communities must stop building more hotels and housing. Demand will always exceed supply due to desired weather locally. Why locals continue to want more government owned UCSB & housing authority rentals baffles me. Price for old structured, interest rates, and very high property taxes that increase 2% a year seem to motivate young skilled workers & professionals to leave town. Very sad. Is the 15% or higher Montecito/SB vacancy factor a concern?

Mission Colorization #48

Successful SpaceX Launch Early Monday Morning