Study: Typical Florida household needs 17 years to save for a 10% home down payment

As home prices continue to climb across Florida, a new analysis suggests it could take the typical household nearly a generation to save for a modest down payment.

New data from ConsumerAffairs estimates that Floridians would need 17 years to save enough for a 10% down payment on a median-priced home. Researchers say that’s the 12th-longest timeline in the country.

The findings come as the state’s median home price reaches $404,300, putting a 10% down payment at $40,430.

To reach that number, ConsumerAffairs calculated what an average household could save annually after taxes and covering essential expenses: • Median household income in Florida: $77,735 • Estimated taxes: $15,309, leaving $62,426 • Essential yearly costs — including housing, food, health care, transportation, gas,