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Anatomy of a First-time Buyer

Posted by Ri Prasad on Friday, September 16, 2022 at 6:37 AM By Ri Prasad / September 16, 2022 Comment

The Average First-time Home Buyer

Is 33 years old

Has a household income of $86,500

Spends a median of $252,000 on the home purchase price

Makes a 7% down payment

Buys a home with an average square footage of 1,640 square feet

37% of first-time home buyers carry student debt, with a typical balance of $30,000

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Tags: Finance, First Time Home Buyers, Home Buyers, Investor, Luxury Real Estate, Market Update, Multi-Units, Renters

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