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To determine how much cash couples in different parts of the country would need on hand to throw a wedding and buy their first home, Redfin calculated down payment amounts in 25 metro areas, assuming a 20 percent down payment on the median list price as of
Here is the full ranking of the most affordable cities to have a wedding and purchase a home, leading up to the most expensive:
Rank |
Metropolitan |
Average Wedding Cost |
Median List |
Down |
Wedding |
1 |
Cleveland, OH |
$22,000 |
$169,900 |
$33,980 |
$55,980 |
2 |
Detroit, MI |
$29,000 |
$139,900 |
$27,980 |
$56,980 |
3 |
Pittsburgh, PA |
$27,000 |
$189,900 |
$37,980 |
$64,980 |
4 |
Tampa, FL |
$23,000 |
$250,990 |
$50,198 |
$73,198 |
5 |
Orlando, FL |
$26,000 |
$270,340 |
$54,068 |
$80,068 |
6 |
Hartford, CT |
$30,000 |
$251,000 |
$50,200 |
$80,200 |
7 |
Philadelphia, PA |
$33,000 |
$241,000 |
$48,200 |
$81,200 |
8 |
Phoenix, AZ |
$23,000 |
$292,235 |
$58,447 |
$81,447 |
9 |
Minneapolis, MN |
$23,000 |
$295,000 |
$59,000 |
$82,000 |
10 |
Atlanta, GA |
$27,000 |
$279,900 |
$55,980 |
$82,980 |
11 |
Charlotte, NC |
$27,000 |
$289,900 |
$57,980 |
$84,980 |
12 |
Houston, TX |
$33,000 |
$279,000 |
$55,800 |
$88,800 |
13 |
Raleigh, NC |
$27,000 |
$314,500 |
$62,900 |
$89,900 |
14 |
Chicago, IL |
$37,000 |
$289,900 |
$57,980 |
$94,980 |
15 |
Dallas, TX |
$30,000 |
$325,000 |
$65,000 |
$95,000 |
16 |
Baltimore, MD |
$35,000 |
$315,000 |
$63,000 |
$98,000 |
17 |
Sacramento, CA |
$26,000 |
$439,000 |
$87,800 |
$113,800 |
18 |
Denver, CO |
$28,000 |
$439,900 |
$87,980 |
$115,980 |
19 |
Washington, D.C. |
$39,000 |
$443,000 |
$88,600 |
$127,600 |
20 |
Seattle, WA |
$25,000 |
$599,950 |
$119,990 |
$144,990 |
21 |
Boston, MA |
$38,000 |
$559,000 |
$111,800 |
$149,800 |
22 |
San Diego, CA |
$27,000 |
$639,000 |
$127,800 |
$154,800 |
23 |
New York, NY metro |
$50,000 |
$535,000 |
$107,000 |
$157,000 |
24 |
Los Angeles, CA |
$33,000 |
$679,000 |
$135,800 |
$168,800 |
25 |
San Francisco, CA |
$40,000 |
1,425,000 |
$285,000 |
$325,000 |
National/Combined Markets Average |
$38,700 |
$308,000 |
$79,619 |
$109,939 |
In expensive coastal metros including
Even in relatively affordable housing markets like
To read the full report, including personal stories from Redfin employees currently navigating the wedding and home buying process, please visit: https://www.redfin.com/blog/choosing-between-wedding-and-down-payment.
About Redfin
Redfin (www.redfin.com) is a technology-powered real estate brokerage, combining its own full-service agents with modern technology to redefine real estate in the consumer's favor. Founded by software engineers, Redfin has the country's #1 brokerage website and offers a host of online tools to consumers, including the Redfin Estimate, the automated home-value estimate with the industry's lowest published error rate for listed homes. Homebuyers and sellers enjoy a full-service, technology-powered experience from Redfin real estate agents, while saving thousands in commissions. Redfin serves more than 85 major metro areas across the U.S. and
For more information or to contact a local Redfin real estate agent, visit www.redfin.com. To learn about housing market trends and download data, visit the
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SOURCE Redfin
Redfin Journalist Services: Erin Osgood, 206-588-6863, press@redfin.com