{"id":796087,"date":"2026-05-14T15:21:17","date_gmt":"2026-05-14T15:21:17","guid":{"rendered":"https:\/\/www.europesays.com\/us\/796087\/"},"modified":"2026-05-14T15:21:17","modified_gmt":"2026-05-14T15:21:17","slug":"how-long-does-it-take-to-save-for-a-down-payment-in-nyc","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/796087\/","title":{"rendered":"How Long Does It Take to Save for a Down Payment in NYC?"},"content":{"rendered":"

<\/p>\n

\n Photo: Plexi Images\/GHI\/Universal Images Group\/Getty Images\n <\/p>\n

Finally, some good news in the New York City housing market:\u00a0It will take a person making the median household income only 20 years to save up for a down payment. (The current median is $105,481, and the math here assumes 10 percent put aside in annual savings.) Oh, that sounds like bad news to you? Consider the fact that this is actually a better projection than what we\u2019ve seen in recent years: \u201cWhile two decades is a long time, this is an improvement from nearly 24 years to save for a 20 percent down payment on the median-priced home in April 2019 prior to the pandemic,\u201d per the report<\/a> from StreetEasy.<\/p>\n

So most of us should get comfortable renting for the time being. What\u2019s going on in the rental market? Oh, well, according to the same report, the median rent in April set a new record, rising 7 percent year over year to $4,120 \u2014\u00a0\u201cthe highest StreetEasy has recorded since it began tracking rental data in 2010.\u201d Meanwhile, inventory has only gotten tighter and tighter.<\/p>\n

Happy hunting, apartment seekers.<\/p>\n

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Related<\/p>\n","protected":false},"excerpt":{"rendered":"Photo: Plexi Images\/GHI\/Universal Images Group\/Getty Images Finally, some good news in the New York City housing market:\u00a0It will…\n","protected":false},"author":3,"featured_media":796088,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5122],"tags":[112157,852,5229,250680,115953,16403,8166,324814,317095,405,403,5226,5225,5228,5227,324813,12076,208341,225160,41008,208342,67,586,132,5230,68,2969],"class_list":{"0":"post-796087","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-new-york","8":"tag-affordability-crisis","9":"tag-affordable-housing","10":"tag-america","11":"tag-buying-an-apartment-in-new-york-city","12":"tag-down-payment","13":"tag-homeownership","14":"tag-housing-market","15":"tag-market-reports","16":"tag-moving-month","17":"tag-new-york","18":"tag-new-york-city","19":"tag-newyork","20":"tag-newyorkcity","21":"tag-ny","22":"tag-nyc","23":"tag-nyc-homeownership","24":"tag-rental-market","25":"tag-state-of-the-market","26":"tag-streeteasy","27":"tag-the-real-estate","28":"tag-unaffordable-housing","29":"tag-united-states","30":"tag-united-states-of-america","31":"tag-unitedstates","32":"tag-unitedstatesofamerica","33":"tag-us","34":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/116573614169605998","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/796087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=796087"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/796087\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/796088"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=796087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=796087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=796087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}