As the Class of 2025 flips their tassels and steps into the next chapter, many may be wondering: When can I afford a home of my own?
According to a new study from the Mortgage Research Center, the answer — for most — is about nine years.
That’s the average time it would take a college graduate earning today’s entry-level salary to save for a 10% down payment on a typical starter home. It’s longer than many expect, but it’s not a dead end. In fact, this timeline offers a clear, data-backed roadmap for turning the dream of homeownership into a real, achievable goal.
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A degree still opens doors — just a bit later
According to the Mortgage Research Center’s study, new graduates with a bachelor’s degree — earning an average starting salary of $64,598 — could afford a home by April 2034, assuming they consistently save 13.8% of their income. This timeline assumes a 10% down payment on a median-priced U.S. home, currently about $385,994.
Higher education can still lead to better-paying, more stable jobs — key ingredients in qualifying for a mortgage and saving with purpose. While rent, student loans, and inflation present real hurdles, the data shows that homeownership isn’t slipping out of reach. It just requires a different pace — and plan — than in years past.
Where you live can shape the timeline
Not all graduates will follow the same path. The study highlights major differences in homebuying timelines based on location.
In states with more affordable housing markets, new grads could buy much sooner. West Virginia leads the pack, where the average graduate could reach their down payment goal in under five years. On the other end of the spectrum is Hawaii, where high home prices stretch the timeline to nearly 18 years.
Midwestern and Southern states — like Ohio, Indiana, and Iowa — tend to offer faster paths to ownership. High-cost coastal states, especially in the West, extend the wait well beyond a decade.
Where a graduate chooses to live and work could make all the difference in how soon that first home becomes a reality. Below is the full data breakout by state, according to Mortgage Research Center:
| State | Years to Buy | Homebuying Month/Yr With Student Loans | Homebuying Month/Yr Without Student Loans | Average Home Price | Average Starting Salary | Average Student Loan |
|---|---|---|---|---|---|---|
| U.S. Average | 9.0 | April 2034 | August 2029 | $385,994 | $64,598 | $36,043 |
| Alabama | 7.1 | June 2032 | January 2028 | $225,431 | $60,156 | $37,709 |
| Alaska | 8.8 | February 2034 | June 2029 | $385,786 | $67,221 | $35,821 |
| Arizona | 10.1 | May 2035 | February 2030 | $438,202 | $66,683 | $35,675 |
| Arkansas | 6.7 | January 2032 | January 2028 | $210,385 | $56,314 | $33,858 |
| California | 12.3 | August 2037 | October 2032 | $809,893 | $78,278 | $38,168 |
| Colorado | 10.7 | December 2035 | December 2030 | $564,641 | $73,072 | $37,392 |
| Connecticut | 8.0 | May 2033 | July 2029 | $440,359 | $75,975 | $36,672 |
| Delaware | 10.4 | September 2035 | September 2029 | $389,709 | $64,157 | $38,683 |
| District of Columbia | 13.5 | October 2038 | December 2031 | $723,888 | $79,235 | $54,795 |
| Florida | 11.8 | February 2037 | June 2030 | $407,588 | $58,009 | $39,262 |
| Georgia | 10.2 | July 2035 | January 2029 | $330,822 | $64,185 | $42,026 |
| Hawaii | 17.8 | February 2043 | December 2036 | $985,731 | $61,448 | $38,158 |
| Idaho | 11.6 | December 2036 | March 2031 | $462,848 | $57,342 | $33,281 |
| Illinois | 6.2 | July 2031 | February 2028 | $277,745 | $71,127 | $39,055 |
| Indiana | 6.4 | October 2031 | April 2028 | $245,728 | $60,573 | $33,243 |
| Iowa | 5.4 | September 2030 | January 2028 | $224,230 | $60,754 | $30,925 |
| Kansas | 6.0 | May 2031 | February 2028 | $231,494 | $60,620 | $33,119 |
| Kentucky | 5.8 | February 2031 | December 2027 | $217,893 | $60,185 | $33,470 |
| Louisiana | 6.5 | October 2031 | November 2027 | $201,844 | $57,107 | $34,866 |
| Maine | 11.3 | August 2036 | July 2030 | $397,214 | $55,592 | $34,292 |
| Maryland | 9.5 | October 2034 | June 2029 | $438,225 | $76,748 | $43,692 |
| Massachusetts | 10.4 | September 2035 | April 2031 | $658,566 | $79,985 | $35,529 |
| Michigan | 6.3 | August 2031 | February 2028 | $246,409 | $64,810 | $36,974 |
| Minnesota | 6.6 | December 2031 | November 2028 | $344,161 | $71,254 | $34,071 |
| Mississippi | 8.5 | October 2033 | November 2027 | $180,641 | $52,266 | $37,254 |
| Missouri | 7.0 | May 2032 | April 2028 | $253,141 | $61,418 | $35,675 |
| Montana | 12.3 | August 2037 | June 2031 | $460,766 | $54,642 | $33,945 |
| Nebraska | 6.6 | December 2031 | June 2028 | $265,570 | $61,239 | $32,377 |
| Nevada | 11.2 | July 2036 | November 2030 | $466,050 | $60,775 | $34,589 |
| New Hampshire | 10.0 | April 2035 | June 2030 | $507,234 | $71,325 | $34,884 |
| New Jersey | 9.5 | October 2034 | June 2030 | $566,880 | $80,114 | $37,201 |
| New Mexico | 10.2 | June 2035 | May 2029 | $309,382 | $55,421 | $34,280 |
| New York | 9.2 | July 2034 | October 2029 | $461,467 | $74,504 | $38,690 |
| North Carolina | 10.0 | May 2035 | March 2029 | $334,161 | $62,338 | $38,695 |
| North Dakota | 6.2 | July 2031 | July 2028 | $274,293 | $61,164 | $29,647 |
| Ohio | 5.7 | December 2030 | December 2027 | $236,650 | $64,933 | $35,033 |
| Oklahoma | 6.3 | September 2031 | January 2028 | $209,265 | $55,663 | $32,103 |
| Oregon | 11.1 | May 2036 | November 2030 | $509,299 | $67,100 | $37,829 |
| Pennsylvania | 6.6 | December 2031 | May 2028 | $273,566 | $65,678 | $36,267 |
| Rhode Island | 10.0 | May 2035 | July 2030 | $486,649 | $68,084 | $33,270 |
| South Carolina | 9.8 | February 2035 | December 2028 | $300,430 | $60,590 | $38,770 |
| South Dakota | 8.6 | December 2033 | April 2029 | $309,377 | $56,517 | $30,928 |
| Tennessee | 9.4 | September 2034 | February 2029 | $319,357 | $61,189 | $36,886 |
| Texas | 6.6 | December 2031 | August 2028 | $304,532 | $66,474 | $33,581 |
| Utah | 11.5 | October 2036 | July 2031 | $541,641 | $63,247 | $33,746 |
| Vermont | 11.7 | January 2037 | May 2030 | $392,398 | $56,741 | $38,404 |
| Virginia | 8.5 | October 2033 | April 2029 | $406,016 | $74,468 | $40,137 |
| Washington | 10.3 | September 2035 | January 2031 | $618,364 | $78,485 | $36,762 |
| West Virginia | 4.9 | April 2030 | June 2027 | $167,346 | $56,648 | $32,358 |
| Wisconsin | 7.1 | June 2032 | November 2028 | $315,763 | $64,320 | $32,628 |
| Wyoming | 9.5 | November 2034 | October 2029 | $356,665 | $58,331 | $31,503 |
Knowledge is power for the Class of 2025
Rather than discouraging, the study offers a powerful tool: clarity. Knowing the likely timeline — and the key financial levers that shape it — can help new graduates start making intentional decisions now.
That might mean setting up a savings plan, building credit, or exploring first-time buyer programs that reduce down payment hurdles. In some cases, it could mean considering lower-cost housing markets where the dream is more within reach.
The important thing is this: the dream of homeownership is still alive. It just doesn’t happen overnight.
The bottom line
The road to homeownership may wind through rising rents, student loan payments, and economic uncertainty — but with the right strategy, the Class of 2025 can still get there. Early savings, smart credit habits, and awareness of low-to-no down payment programs can make all the difference.
For new grads with big dreams and steady determination, that first set of house keys could arrive before the end of their 20s — or at least not long after. The timeline may have changed, but the destination remains the same.
Written by: Aleksandra Kadzielawski