25
VETERAN
HOMEOWNERSHIP
RATE SURPASSES
THAT OF OVERALL
POPULATION
A study by the Urban Institute revealed
that 78.2% of veteran households were
homeowners in 2017, which is 14% more
than the total population and more than 16%
higher than the non-military population.
Active-duty servicemen, according to
the report, are mobile and have led the
homeownership rate to be 42.7% in 2017.
However, active servicemen over the age
of 55 have the highest homeownership rate at
87%. is is followed by 84% for veterans over
the age of 55. Both are higher than the total
homeownership rate of 77%.
Active servicemen between the ages of 18
and 34 have the lowest homeownership rate
at 28%. e homeownership rate for the total
population between the age of 18 and 34 is
just 34%. Veterans within that age group have
a homeownership rate of 44%.
White veterans have the highest
homeownership rates, with 46% of active
servicemen owning homes and 82% of
veterans being homeowners. ose numbers
drop to 35% and 63% for African American
homeowners.
Active servicemen do have the highest
median income at $71,000, which is followed
by veterans at $66,800. e average income
for nonmilitary members is $58,000.
Urban Institute also states that
Fayetteville, North Carolina, has the highest
share of VA loans at 60% with the military
share of the labor force at 17%. Clarksville,
Tennessee-Kentucky, is a close second with
a VA loan share of 50% with a military labor
force share of 13%.
e Urban Institute reported that there
were more than 19.2 million veterans living in
across the nation.
Urban Institute found that Tampa,
Florida, was named the best place for veterans
to live, possessing a healthy economy, job
opportunities, and a reliable quality of life.
Tampa came in at No. 8 in employment,
No. 12 in the economy, and No. 6 in quality of
life. Florida also had the top-two markets for
the highest veteran income growth—Orlando
and Hialeah.
Joining Tampa at the top of the list were
the metros Austin, Texas; Orlando; Raleigh,
North Carolina; and Scottsdale, Arizona.
