New Jersey leads the nation with the highest average down payment, while Midwest states rank at the bottom of the list, according to LendingTree.

With the housing market continuing to struggle and fewer consumers being able to purchase a new home or apartment, LendingTree.com released data highlighting the average down payments on residential real estate purchases for all 50 states and Washington D.C.

New Jersey leads the country with the highest average down payment of 13.76 percent. The state with the lowest average down payment is North Dakota, where buyers put down an average of 11.37 percent.

The locations rounding out the Top Five for highest down payments including Washington D.C. (13.54 percent), New York (13.51 percent), Hawaii (13.37 percent) and California (13.25 percent). The states completing the bottom five are Wyoming (11.42 percent), Oklahoma (11.67 percent), Utah (11.75 percent) and Tennessee (11.75 percent). Overall, the average down payment for all states is 12.29 percent.

LendingTree has created an infographic showcasing the “down payment divide” and it is available at here.

“If Federal regulators were to adopt the proposed 20 percent down payment requirement, a majority of borrowers wouldn’t be able to meet the standard given the findings in this report,” said Doug Lebda, founder and CEO of LendingTree. “The proposed rule is part of a larger set of requirements that would exempt qualified borrowers from risk retention requirements and would have access to the lowest rates available. While this rule has yet to be put into effect, borrowers should be aware of the possibility and plan for future home loan needs. By utilizing LendingTree, borrowers can find the lowest rates available, find the best deal, and decrease monthly payments to make the dream of owning a home a reality.”

Additional findings from the LendingTree data include:

• New Jersey, a state with a loan-to-value ratio lower than the national average, also has a higher average home price than most other states. However, New Jersey falls into the higher end of the spectrum in terms of average debt-to-income ratios.
• Nevada, a state that has had high foreclosure rates and sharp decrease in the numbers of homes purchased, actually ranks as the state with the ninth highest average down payment at 13.05 percent.
• The state with the most “closings” to date in 2011 is Texas, with 39,498 (thru October 2011). South Dakota has the fewest closings this year with only 807.