Study: Los Angeles homebuyers need more than a decade to save for a down payment

A new study by SmartAsset , an online hub for consumer finance information, found that it could take as long as 11.55 years for the average Angeleno to save up a down payment on a home. SmartAsset used median income figures and assumed that workers would want to save 20% of their income each year for either a 20% of 12% down payment on a median-priced home in Los Angeles. Below is a list of the cities that topped the list of years needed to save up that 20% down payment.

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