How much down payment do I need in Los Angeles?

The typical down payment in Los Angeles is about $220,000 for a median-priced home. This is based on the median listing price of $1,100,000. Generally, a 20% down payment is recommended to avoid extra fees like private mortgage insurance. For a home priced at $1,100,000, 20% would be that $220,000. Currently, the median listing price in Los Angeles is $1,100,000. This price has stayed pretty stable over the last month, only going up by 0.1%. However, it's 8.0% lower than it was a year ago. Homes are also staying on the market a little longer, around 47 days, which is up 4.4% from last year. This could give you a bit more time to make a decision and consider your down payment options. With home prices down from last year, this could be a good opportunity to buy. While $220,000 is a significant amount, it could help you secure a home in the current market and avoid additional costs.