Another reason to buy a home in Tampa Bay? Down payments are lower here

Tampa Bay homebuyers don't have to put as much up for a downpayment on a home as other areas. The median downpayment  for a bay area home in the quarter ended in September was $13,750 compared to $20,000 nationally, an all-time high. | [Times file photo]
Tampa Bay homebuyers don't have to put as much up for a downpayment on a home as other areas. The median downpayment for a bay area home in the quarter ended in September was $13,750 compared to $20,000 nationally, an all-time high. | [Times file photo]
Published December 18 2017
Updated December 18 2017

Homebuyers in the Tampa Bay area don’t have to shell out as much on downpayments as buyers in many other places. According to ATTOM Data Solutions, the median downpayment for a bay area home in the quarter ended in September was $13,750 compared to $20,000 nationally, an all-time high.

Among major metro areas, Tampa Bay ranked 54th nationally with its median downpayment equal to just 6.5 percent of purchase price --- less than that in Fort Myers, Miami, Naples, Sarasota, Orlando and Jacksonville. San Francisco was No. 1 with a median downpayment of $247,000, and 11 other markets topped the $50,000 mark.

 

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