All ModelsWhat is Faster: Nomad™ or 20% Down Payments

What is Faster: Nomad™ or 20% Down Payments

When working toward achieving financial independence, is it faster to use the Nomad™ strategy or to put 20% down payments?

It varies by city. Nomad™ is not always better. 20% is not always better.

So, when is each better or worse?

Where Nomad™ Is Faster Than 20% Down Payments

The chart below shows the cities where:

  • They both achieved financial independence before we stopped modeling. It ignores ones where one or the other did not achieve financial independence.
  • Nomad™ was faster toward achieving financial independence.

Or, check out the same data in the a table format below.

# City, State Nomad™ Months to FI 20% Down Payment Months to FI Difference
1 Anchorage, AK 335 340 5
2 Birmingham, AL 280 292 12
3 Mobile, AL 256 277 21
4 Montgomery, AL 160 172 12
5 Chandler, AZ 548 556 8
6 Phoenix, AZ 268 292 24
7 Scottsdale, AZ 460 472 12
8 Arden-Arcade, CA 604 620 16
9 Corona, CA 632 640 8
10 Fontana, CA 616 627 11
11 Fresno, CA 628 647 19
12 Huntington Beach, CA 497 520 23
13 Los Angeles, CA 624 640 16
14 Oceanside, CA 619 628 9
15 Ontario, CA 571 580 9
16 Oxnard, CA 613 614 1
17 Pomona, CA 568 580 12
18 Sacramento, CA 244 268 24
19 San Diego, CA 282 328 46
20 Santa Ana, CA 571 580 9
21 Thousand Oaks, CA 641 652 11
22 Ventura, CA 692 694 2
23 Visalia, CA 340 346 6
24 Denver, CO 604 616 12
25 Bridgeport, CT 220 247 27
26 New Haven, CT 62 75 13
27 Stamford, CT 488 493 5
28 Washington, DC 268 316 48
29 Fort Lauderdale, FL 77 100 23
30 Gainesville, FL 321 337 16
31 Hollywood, FL 124 160 36
32 Palm Bay, FL 265 268 3
33 Pembroke Pines, FL 436 437 1
34 Pompano Beach, FL 304 324 20
35 Tampa, FL 665 667 2
36 Augusta, GA 148 172 24
37 Davenport, IA 340 351 11
38 Chicago, IL 112 130 18
39 Rockford, IL 256 285 29
40 Indianapolis, IN 75 85 10
41 Lexington, KY 268 282 14
42 Baton Rouge, LA 490 506 16
43 New Orleans, LA 208 217 9
44 Boston, MA 194 244 50
45 Quincy, MA 660 664 4
46 Ann Arbor, MI 554 568 14
47 Lansing, MI 130 136 6
48 Columbia, MO 628 652 24
49 Independence, MO 304 316 12
50 Springfield, MO 220 238 18
51 St Louis, MO 212 232 20
52 Charlotte, NC 183 220 37
53 Fayetteville, NC 100 106 6
54 Greensboro, NC 288 292 4
55 Greenville, NC 74 82 8
56 High Point, NC 184 208 24
57 Wilmington, NC 285 295 10
58 Winston-Salem, NC 172 208 36
59 Lincoln, NE 628 688 60
60 Jersey City, NJ 124 153 29
61 Las Cruces, NM 209 230 21
62 Reno, NV 592 600 8
63 Sparks, NV 544 556 12
64 Buffalo, NY 292 293 1
65 New York, NY 64 80 16
66 Rochester, NY 91 92 1
67 Syracuse, NY 208 220 12
68 Cincinnati, OH 172 196 24
69 Columbus, OH 142 161 19
70 Toledo, OH 281 297 16
71 Oklahoma City, OK 111 124 13
72 Allentown, PA 501 508 7
73 Erie, PA 340 348 8
74 Pittsburgh, PA 99 115 16
75 Providence, RI 176 208 32
76 Chattanooga, TN 148 182 34
77 Murfreesboro, TN 668 687 19
78 Nashville, TN 141 172 31
79 Abilene, TX 256 266 10
80 Arlington, TX 685 706 21
81 Beaumont, TX 147 159 12
82 Brownsville, TX 340 342 2
83 College Station, TX 208 244 36
84 Dallas, TX 75 91 16
85 Fort Worth, TX 115 134 19
86 Garland, TX 616 624 8
87 Houston, TX 75 90 15
88 Odessa, TX 208 224 16
89 Richardson, TX 689 711 22
90 San Angelo, TX 185 208 23
91 San Antonio, TX 660 712 52
92 Tyler, TX 136 148 12
93 Wichita Falls, TX 268 289 21
94 Hampton, VA 158 184 26
95 Newport News, VA 220 232 12
96 Norfolk, VA 194 208 14
97 Portsmouth, VA 172 208 36
98 Richmond, VA 184 208 24
99 Virginia Beach, VA 112 136 24
100 Burlington, VT 309 329 20
101 Tacoma, WA 544 546 2
102 Green Bay, WI 148 170 22
103 Milwaukee, WI 160 180 20
104 Charleston, WV 286 312 26
105 Cheyenne, WY 664 686 22

Where 20% Down Is Faster Than Nomad™

The chart below shows the cities where:

  • They both achieved financial independence before we stopped modeling. It ignores ones where one or the other did not achieve financial independence.
  • 20% down was faster toward achieving financial independence.

Or, check out the same data in the a table format below.

# City, State Nomad™ Months to FI 20% Down Payment Months to FI Difference
1 Huntsville, AL 527 515 12
2 Little Rock, AR 561 544 17
3 Gilbert, AZ 628 623 5
4 Glendale, AZ 470 460 10
5 Mesa, AZ 436 424 12
6 Surprise, AZ 494 477 17
7 Tempe, AZ 484 481 3
8 Bakersfield, CA 376 362 14
9 Escondido, CA 674 670 4
10 Lancaster, CA 400 388 12
11 Modesto, CA 422 400 22
12 Moreno Valley, CA 587 580 7
13 Palmdale, CA 509 508 1
14 Riverside, CA 670 661 9
15 Salinas, CA 572 568 4
16 San Bernardino, CA 432 412 20
17 Santa Clarita, CA 709 700 9
18 Santa Rosa, CA 592 590 2
19 Stockton, CA 508 496 12
20 Aurora, CO 588 580 8
21 Colorado Springs, CO 558 556 2
22 Greeley, CO 596 587 9
23 Loveland, CO 648 640 8
24 Pueblo, CO 460 446 14
25 Westminster, CO 700 688 12
26 Hartford, CT 484 472 12
27 Waterbury, CT 544 538 6
28 Wilmington, DE 455 438 17
29 Boca Raton, FL 372 364 8
30 Brandon, FL 448 412 36
31 Clearwater, FL 432 412 20
32 Coral Springs, FL 609 594 15
33 Hialeah, FL 473 460 13
34 Lakeland, FL 431 424 7
35 Largo, FL 429 412 17
36 Port St Lucie, FL 485 470 15
37 Spring Hill, FL 296 268 28
38 St Petersburg, FL 397 385 12
39 Tallahassee, FL 388 362 26
40 West Palm Beach, FL 689 674 15
41 Athens, GA 304 292 12
42 Atlanta, GA 387 364 23
43 Savannah, GA 276 244 32
44 Cedar Rapids, IA 401 383 18
45 Des Moines, IA 424 399 25
46 Elgin, IL 364 362 2
47 Joliet, IL 534 532 2
48 Naperville, IL 557 547 10
49 Evansville, IN 706 691 15
50 Fort Wayne, IN 567 543 24
51 South Bend, IN 86 75 11
52 Lawrence, KS 453 436 17
53 Topeka, KS 406 400 6
54 Wichita, KS 545 512 33
55 Louisville, KY 424 388 36
56 Metairie, LA 524 514 10
57 Shreveport, LA 121 112 9
58 Lowell, MA 592 591 1
59 New Bedford, MA 561 556 5
60 Portland, ME 448 435 13
61 Detroit, MI 38 11 27
62 Flint, MI 98 40 58
63 Grand Rapids, MI 275 256 19
64 Livonia, MI 446 424 22
65 Sterling Heights, MI 360 341 19
66 Warren, MI 388 376 12
67 Minneapolis, MN 509 496 13
68 St Paul, MN 449 436 13
69 Jackson, MS 112 88 24
70 Billings, MT 501 479 22
71 Asheville, NC 436 413 23
72 Durham, NC 525 499 26
73 Raleigh, NC 376 364 12
74 Fargo, ND 553 551 2
75 Albuquerque, NM 419 400 19
76 Henderson, NV 569 556 13
77 Las Vegas, NV 564 544 20
78 Albany, NY 472 450 22
79 Akron, OH 124 117 7
80 Cleveland, OH 50 26 24
81 Broken Arrow, OK 460 448 12
82 Norman, OK 531 520 11
83 Tulsa, OK 304 292 12
84 Beaverton, OR 652 640 12
85 Eugene, OR 580 558 22
86 Hillsboro, OR 643 640 3
87 Salem, OR 484 470 14
88 Philadelphia, PA 38 37 1
89 Clarksville, TN 544 520 24
90 Memphis, TN 54 46 8
91 Amarillo, TX 456 448 8
92 Carrollton, TX 568 547 21
93 Corpus Christi, TX 304 280 24
94 El Paso, TX 381 362 19
95 Grand Prairie, TX 592 580 12
96 Irving, TX 572 568 4
97 Killeen, TX 495 485 10
98 Laredo, TX 427 412 15
99 Lubbock, TX 340 316 24
100 Mesquite, TX 448 425 23
101 Midland, TX 508 493 15
102 Waco, TX 362 332 30
103 West Valley City, UT 496 481 15
104 Roanoke, VA 385 364 21
105 Spokane, WA 484 470 14
106 Kenosha, WI 355 328 27
107 Madison, WI 520 506 14
108 Casper, WY 421 386 35

Where 20% Down Is Faster Than Nomad™

The chart below shows the cities where:

  • Nomad™ did not achieve financial independence in the time we modeled, but 20% down payment did.
  • Therefore, 20% down was faster toward achieving financial independence.

Or, check out the same data in the a table format below.

# City, State Nomad™ Months to FI 20% Down Payment Months to FI Difference
1 Lewisville, TX > 720 712 8

IMPORTANT NOTE: Since there were cities that did NOT achieve financial independence in the time we modeled (typically 720 months), that means that the difference is AT LEAST this many months... and might be more since we don't really know how many months beyond 720 it would have taken to be financially independent.


Where Nomad™ Is Faster Than 20% Down

The chart below shows the cities where:

  • 20% down did not achieve financial independence in the time we modeled, but Nomad™ did.
  • Therefore, Nomad™ was faster toward achieving financial independence.

Or, check out the same data in the a table format below.

# City, State Nomad™ Months to FI 20% Down Payment Months to FI Difference
1 Tucson, AZ 700 > 720 20
2 Fort Collins, CO 712 > 720 8
3 Manchester, NH 700 > 720 20
4 Bend, OR 712 > 720 8

IMPORTANT NOTE: Since there were cities that did NOT achieve financial independence in the time we modeled (typically 720 months), that means that the difference is AT LEAST this many months... and might be more since we don't really know how many months beyond 720 it would have taken to be financially independent.


Where Neither Achieved Financial Independence

The chart below shows the cities where:

  • Neither baseline Nomad™ nor baseline 20% down achieved financial independennce.
# City, State Nomad™ Months to FI 20% Down Payment Months to FI Difference
1 Anaheim, CA > 720 > 720 0
2 Berkeley, CA > 720 > 720 0
3 Burbank, CA > 720 > 720 0
4 Carlsbad, CA > 720 > 720 0
5 Chula Vista, CA > 720 > 720 0
6 Concord, CA > 720 > 720 0
7 Costa Mesa, CA > 720 > 720 0
8 Elk Grove, CA > 720 > 720 0
9 Fremont, CA > 720 > 720 0
10 Fullerton, CA > 720 > 720 0
11 Garden Grove, CA > 720 > 720 0
12 Hayward, CA > 720 > 720 0
13 Irvine, CA > 720 > 720 0
14 Long Beach, CA > 720 > 720 0
15 Newport Beach, CA > 720 > 720 0
16 Oakland, CA > 720 > 720 0
17 Pasadena, CA > 720 > 720 0
18 Rancho Cucamonga, CA > 720 > 720 0
19 Roseville, CA > 720 > 720 0
20 San Francisco, CA > 720 > 720 0
21 San Jose, CA > 720 > 720 0
22 San Mateo, CA > 720 > 720 0
23 Santa Barbara, CA > 720 > 720 0
24 Santa Clara, CA > 720 > 720 0
25 Santa Monica, CA > 720 > 720 0
26 Simi Valley, CA > 720 > 720 0
27 Sunnyvale, CA > 720 > 720 0
28 Torrance, CA > 720 > 720 0
29 Arvada, CO > 720 > 720 0
30 Boulder, CO > 720 > 720 0
31 Centennial, CO > 720 > 720 0
32 Highlands Ranch, CO > 720 > 720 0
33 Lakewood, CO > 720 > 720 0
34 Thornton, CO > 720 > 720 0
35 Windsor, CO > 720 > 720 0
36 Jacksonville, FL > 720 > 720 0
37 The Villages, FL > 720 > 720 0
38 Sandy Springs, GA > 720 > 720 0
39 Honolulu, HI > 720 > 720 0
40 Olathe, KS > 720 > 720 0
41 Overland Park, KS > 720 > 720 0
42 Lafayette, LA > 720 > 720 0
43 Cambridge, MA > 720 > 720 0
44 Fall River, MA > 720 > 720 0
45 Cary, NC > 720 > 720 0
46 Elizabeth, NJ > 720 > 720 0
47 Newark, NJ > 720 > 720 0
48 Paterson, NJ > 720 > 720 0
49 Yonkers, NY > 720 > 720 0
50 Gresham, OR > 720 > 720 0
51 Charleston, SC > 720 > 720 0
52 Knoxville, TN > 720 > 720 0
53 Austin, TX > 720 > 720 0
54 Denton, TX > 720 > 720 0
55 Frisco, TX > 720 > 720 0
56 McKinney, TX > 720 > 720 0
57 Pearland, TX > 720 > 720 0
58 Plano, TX > 720 > 720 0
59 Round Rock, TX > 720 > 720 0
60 Sugar Land, TX > 720 > 720 0
61 The Woodlands, TX > 720 > 720 0
62 Salt Lake City, UT > 720 > 720 0
63 Alexandria, VA > 720 > 720 0
64 Bellevue, WA > 720 > 720 0
65 Everett, WA > 720 > 720 0
66 Kent, WA > 720 > 720 0
67 Renton, WA > 720 > 720 0
68 Seattle, WA > 720 > 720 0

IMPORTANT NOTE: Since there were cities that did NOT achieve financial independence in the time we modeled (typically 720 months), that means that the difference is AT LEAST this many months... and might be more since we don't really know how many months beyond 720 it would have taken to be financially independent.


Nomad™ vs 20% Down: Time Difference to Lean FIRE vs Property Value

How much better is putting 20% down over Nomad™? Does that change based on how expensive the properties are in a certain market?

In the chart below...

  • Green dots show how many months faster to financial independence putting 20% down over Nomad™ plotted against the property value (After Repair Value) in each city.
  • Red dots show how many months slower to financial independence putting 20% down over Nomad™ plotted against the property value.
  • Gray dots represent it took the same amount of time regardless of whether they did Nomad™ or put 20% down.