15. Tucson, Arizona

Average household income: $46,432

Median home price: $158,349

20% down payment: $31,670

Years needed (20% savings rate): 3.4

Years needed (8% savings rate): 8.5

(Photo: Shutterstock)

14. Winston-Salem, North Carolina

Average household income: $46,463

Median home price: $156,079

20% down payment: $31,216

Years needed (20% savings rate): 3.4

Years needed (8% savings rate): 8.4

(Photo: Shutterstock)

13. Tulsa, Oklahoma

Average household income: $48,057

Median home price: $144,729

20% down payment: $28,946

Years needed (20% savings rate): 3

Years needed (8% savings rate): 7.5

(Photo: Shutterstock)

12. Cincinnati

Average household income: $46,511

Median home price: $139,541

20% down payment: $27,908

Years needed (20% savings rate): 3

Years needed (8% savings rate): 7.5

(Photo: Shutterstock)

11. St. Louis

Average household income: $50,216

Median home price: $142,568

20% down payment: $28,514

Years needed (20% savings rate): 2.8

Years needed (8% savings rate): 7.1

(Photo: Shutterstock)

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10. Indianapolis

Average household income: $49,572

Median home price: $139,757

20% down payment: $27,951

Years needed (20% savings rate): 2.8

Years needed (8% savings rate): 7

(Photo: Shutterstock)

9. Laredo, Texas

Average household income: $47,457

Median home price: $132,840

20% down payment: $26,568

Years needed (20% savings rate): 2.8

Years needed (8% savings rate): 7

(Photo: Shutterstock)

8. Milwaukee

Average household income: $45,481

Median home price: $127,544

20% down payment: $25,509

Years needed (20% savings rate): 2.8

Years needed (8% savings rate): 7

(Photo: Shutterstock)

7. Memphis, Tennessee

Average household income: $39,883

Median home price: $104,845

20% down payment: $20,969

Years needed (20% savings rate): 2.6

Years needed (8% savings rate): 6.6

(Photo: Shutterstock)

6. Fort Wayne, Indiana

Average household income: $52,758

Median home price: $119,545

20% down payment: $23,909

Years needed (20% savings rate): 2.3

Years needed (8% savings rate): 5.7

(Photo: Shutterstock)

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5. Buffalo, New York

Average household income: $39,513

Median home price: $89,605

20% down payment: $17,921

Years needed (20% savings rate): 2.3

Years needed (8% savings rate): 5.7

(Photo: Shutterstock)

4. Cleveland

Average household income: $33,499

Median home price: $74,040

20% down payment: $14,808

Years needed (20% savings rate): 2.2

Years needed (8% savings rate): 5.5

(Photo: Shutterstock)

3. Toledo, Ohio

Average household income: $40,564

Median home price: $86,362

20% down payment: $17,272

Years needed (20% savings rate): 2.1

Years needed (8% savings rate): 5.3

(Photo: Shutterstock)

2. Pittsburgh

Average household income: $61,164

Median home price: $125,706

20% down payment: $25,141

Years needed (20% savings rate): 2.1

Years needed (8% savings rate): 5.1

(Photo: Shutterstock)

1. Detroit

Average household income: $30,238

Median home price: $49,396

20% down payment: $9,879

Years needed (20% savings rate): 1.6

Years needed (8% savings rate): 4.1

(Photo: Shutterstock)

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(Related: 15 Most Expensive Cities for Millennial Homebuyers)

Point2, an international real estate search portal, released a study in early October that determined how much a down payment would cost millennials entering the housing market for the first time in the 100 biggest U.S. cities, and how long it would take them to save that much.

Point2 researchers based their determination on current adjusted median household income for 25- to 40-year-olds in these cities, adjusted median home prices and monthly savings rates.

They considered two different savings rates: 20% of income, which is the recommended saving rate, and 8%, which they said was the average household saving rate in the U.S., citing Trading Economics.

The study found that by considering savings rates, median incomes and median home prices, the time needed to save for a 20% down payment in the 100 largest U.S. cities varies significantly, from a little more than two years in cities requiring the lowest down payments to as long as 10 years in the cities at the other end of the spectrum.

See the gallery for the 15 cities that take millennials the shortest time to save 20% for a down payment.

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