First-Time Buyers Earn $30,000 More Than Peers Who Don't
January 10, 2019 / Michael Gerrity
According to the newly released 2018 Zillow Group Report on Consumer Housing Trends, the median income for a first-time buyer in the U.S. is $72,500, compared with the national median household income of $60,700. The difference in income for first-time buyers is more pronounced when compared with their peers who didn't buy, who have a median income of $42,500. Most buyers rely on savings to finance a down payment, but the second-highest source for a down payment comes from the proceeds from a previous home sale. Buyers entering the market for the first time don't have this resource, though, so a higher income helps them set aside enough for a down payment.