One perk of serving the country is access to a VA home loan.
Millennials are currently between the ages of 25 and 40 and are hungry for housing. In 2020, around 37% of all home buyers were millennials, and they accounted for 50% of all VA purchase loans. While millennials across the board spent part of 2020 buying a home, it’s where millennial veterans were able to purchase that surprised us.
Where millennial veterans are buying
According to data gathered by Veterans United, these are the top five cities where millennial military veterans bought homes in 2020:
- Washington, D.C.
- Virginia Beach, Virginia
- San Diego, California
- Colorado Springs, Colorado
- Dallas, Texas
Here are the top five cities where civilian millennials purchased homes in 2020, based on a report from ICE Mortgage Technology:
- Williston, North Dakota
- Eagle Pass, Texas
- Hobbs, New Mexico
- Midland, Texas
- Big Spring, Texas
High-cost vs. low-cost areas
What immediately became apparent upon comparing the two lists is that veterans are buying homes in higher-priced areas of the country. Using stats from Realtor.com, we compared the median prices for each city to get a sense of how much more veterans are spending.
