Buying as a First Time Homebuyer seems exciting—but is it really easy? With high home prices, rising interest rates, and tight credit, many ask: “Can I truly afford my first home?” This post explores the realities, supported by stats, quotes, and expert guidance to help you navigate this major milestone.
The share of First Time Homebuyer home sales fell to 24% from July 2023 to June 2024, the lowest since 1981.
The median age has risen to 38 years old—a record high compared to the late 20s in the 1980s.
- Median U.S. home price: around $446,000 to $446,766 in mid‑2025 Financial Times.
- Meanwhile, 75% of Americans can’t afford it.
- First‑time buyers now put down a median of 9%, up from earlier years.
- Average down payment: 6–9% of purchase price.
- 32% of mortgage rejections stem from poor debt‑to‑income ratios, hitting younger buyers hardest.
- Median income of first‑time buyers is roughly $95K–$97K.
- 26% of first‑timer buyers rely on family gifts, loans or inheritances for down payments.
- Many choose multigenerational living for cost savings.
““You’re actually investing in your future, not buying a home!” – Sarah F. Findel
““Owning a home is a keystone of wealth… both financial affluence and emotional security.” – Suze Orman
““The ache for home lives in all of us…” – Maya Angelou
- *Is it truly easy for a First Time Homebuyer today?
- *Why the First Time Homebuyer market share dropped to historic lows
- *What a First Time Homebuyer needs to save & prepare
- *How First Time Homebuyer use of family help is rising
- *Inspiring quotes for First Time Homebuyer motivation
Q1: What is the average age of a First Time Homebuyer in the U.S.?
AA: As of 2024, it’s 38 years, a record high
Q2: What percentage of buyers are First Time Homebuyer?
AA: Only 24% of all sales in mid‑2024 were by first‑time buyers
Q3: How much do First Time Homebuyer typically pay as down payment?
AA: Between 6% and 9% of the home price
Q4: Are there more assistance options available now?
AA: Yes, many rely on family gifts or shared living to afford entry
Q5: Is the housing market easing for buyers soon?
AA: Forecasts suggest mortgage rates may decline into the high‑5 % range in 2025, potentially boosting sales
- *24%: share of market by first‑time buyers (lowest since 1981)
- *38 years: median age of first‑time buyers
- *9%: typical down payment for first‑time buyers
- *$97K: median annual income for first‑time buyers
- *26%: relying on family funds for down payment
- *Buying is harder—but not impossible: Only about 1 in 4 buyers today are first‑timers, meaning competition and affordability are real hurdles.
- *You’re likely older and better prepared: Most first‑time buyers now are age 38+, with higher incomes and some form of assistance.
- *Save more, borrow wisely: Expect to raise at least 9% down payment, reduce debt, and maintain a strong credit score.
- *Family help is common: Up to 26% receive financial gifts or loans from relatives to make entry possible.
- *Watch for rate drops: Mortgage rates may ease into the high‑5 percent range in 2025—timing may matter.
- NNational Association of Realtors’ Profile of Home Buyers & Sellers (NAR reports)
- FFT analysis on housing affordability trends in 2025
- WWalletHub’s list of best cities for First Time Homebuyer affordability in 2025