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Money Guy Show

Best and Worst States for Saving a Down Payment on a Home

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 7 January 2026

⏱️ 63 minutes

🧾️ Download transcript

Summary

How long does it take to save for a home? It depends, especially based on where you live! A recent report from Consumer Affairs ranks all 50 states by how long it would take the average American to save for a home down payment. We dive deep into the data and add on our Money Guy spin. Then we answer your financial questions - and celebrate the 20th anniversary of The Money Guy Show! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jump start your journey with our FREE financial resources⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Reach your goals faster with our products⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Take the relationship to the next level: become a client⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Subscribe on YouTube for early access and go beyond the podcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Connect with us on social media for more content⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠DRINKAG1.com/MONEYGUY Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

To succeed in the future of work, forward thinkers use AI to deliver measurable results.

0:05.5

Workday is the AI platform for HR and finance that frees you from the mundane so you can focus on more meaningful work.

0:12.5

Workday, moving business forever forward.

0:20.2

Have you ever been curious on which states it's easiest to get into a new home?

0:25.1

We're going to cover that today.

0:26.2

Brent, I am so excited to talk about this because we know that home ownership is difficult.

0:31.9

And it's always been difficult.

0:33.6

But over these past couple of years, it's gotten even a little more difficult.

0:37.4

And there is some really interesting research and some really interesting data that comes out.

0:41.6

But in my opinion, oftentimes, the data that comes out, the research that we see is more

0:48.2

discouraging than encouraging.

0:49.9

And I think that it makes sense that we ought to dive into the numbers to figure out where

0:53.7

the truth really lies. Well, that's what I was going to say is when we went over this in the show meeting, I was like, look, life is already hard. And when research comes out like this and starts getting press, I'm like, somebody needs to go into the numbers to actually give you the nuts and bolts. So you can figure out if this is something, is it the shock stat that we're about to cover? Or is there more to it? And that's what I like is that we're going to give you the shock and awe because this is what the press does. But then we're going to actually pull back the numbers. So hang in there with us. Don't just watch this and go, I'm tired of all the negativity. I'm

1:27.5

tired of all the bad stuff. We're going to show you how even in a bad community or bad

1:31.3

cost of living where it's hard to get in your foot in the door of home ownership, through

1:36.5

our money guy methods and getting into the methodology, we can cut the years off of this

1:43.6

by literally decades. So with that, we can carry on.

1:49.0

As we're talking about this, there was a recent report from Consumer Affairs that it ranked all 50 states,

1:54.6

and it ranked them by how long would it take for you to save up a 10% down payment for the median priced home in that state?

2:03.8

So we're going to have a medium priced home and we want to see what's the length of time it takes for us to save a 10% down payment.

2:10.4

So a lot of people are wondering, okay, well, where does my state fall in?

2:13.8

So we thought we would show you the three states that they ranked as the fastest

...

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