How much down payment do I need to afford to buy in DC? [Video]

To afford the monthly mortgage on the typical home in the D.C. market, a median-income household would need to put $188,087 down – a 33.1% down payment, Zillow says.

WASHINGTON — A new study evaluating the housing market found that wannabe D.C. buyers may need to invest significantly more than the traditionally recommended 20% down payment if they want to truly be able to afford their mortgage.

According to research done by real estate marketers at Zillow, households making the median income would need to put $188,087 down to afford a mortgage payment in D.C. That equates to a 33.1% down payment if you account for the typical D.C. home value being $568,862.

While the cash itself needed for D.C. homebuyers is higher than for the average American, the percentage of the down payment is actually slightly lower. A prospective buyer making the median income for the country needs to put down $127,743, or 35.4% of a house valued …

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