How $85.10 can buy a San Diego home

SAN DIEGO (FOX 5/KUSI) -- For some in San Diego, buying a home may feel impossible with housing rates at record highs. When it comes to down payments, exactly how much would prospective buyers needs to stow away each month to accumulate that amount in just five years?

Researchers at MutualFund.com, a website that offers tools and information for investors, crunched the numbers to find the answer to that question.

The standard amount for a down payment has historically been 20%, however, that has changed in recent years. According to a 2024 study by the National Association of Realtors, the average down payment is now 15%.

According to MutualFund.com, the median home value in San Diego is  $1,035,332, which would put the 15% down payment at $155,299.80. When calculating this data, the researchers analyzed the median home price in June 2024.

With a five-year savings plan, home seekers would need to save up approximately $31,059.96 per year. When you break t...