LendingTree: San Jose leads US metros with $190K median down payment

LendingTree analyzed over 130,000 mortgage inquiries from January 2025 to May 2026 across the 50 largest U.S. metro areas. San Jose, California tops the ranking with a median planned down payment of $190,000 across all generations. Millennials in San Jose plan $250,000, the highest figure for any generation in any metro. San Francisco ranks second at $170,000, Los Angeles third at $115,000, San Diego fourth at $101,250, and Boston fifth at $101,250. Four of the top five metros are in California. Nationally, the median planned down payment is $55,000. Gen Z buyers in San Jose and San Francisco are the only ones planning 20% down payments. In contrast, buyers in San Antonio, Oklahoma City, and Memphis plan a median of $33,750. Matt Schulz, LendingTree's chief consumer finance analyst, noted that down payment size reflects local housing market conditions.