While owning a home costs more each month than renting across all 50 states, depending on your situation, it can be a smart investment. And if you start saving early on, you may not have to set aside as much as you think.
CNBC looked at the average listing price of homes in every state and calculated how much it would cost you to make a 20 percent down payment. While the down payment can range from 3.5 percent to 20 percent of the total cost of the home, most experts recommend putting down closer to 20 percent.
CNBC then figured out how much you would have to save each day over the course of five, 10 or 15 years to reach that goal. Our calculations assume this money will go into a savings account with negligible interest. While investing your money might make it grow faster, experts generally advise against investing money you'll need in the near future.