JACKSONVILLE, Fla. – A new study shows Jacksonville is the No.1 city in the nation for the number of millennial veterans buying homes. Millennial veterans or service members are those who were born between 1981 and 1996.
Younger buyers are fueling the surge in lending from the Department of Veterans Affairs in recent years because the loans allow qualified buyers to purchase homes with no down payment, no mortgage insurance and with no need for top-tier credit.
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Those advantages have made millennial veterans and service members some of the strongest and most successful homebuyers on the market, and they’re making their presence felt in communities across the country, especially in Jacksonville.
Veterans United Home Loans created a list of the top 30 cities by comparing its purchase loan volume for millennials in 2018 to the volume for that group in 2015.
Cities are ranked by their percentage increase in VA purchase loan volume.
Jacksonville came in first, followed by the Tampa-St. Petersburg area. San Antonio, Texas, ranked third, before the New York-Northern New Jersey-Long Island area.
The Miami-Fort Lauderdale-Pompano Beach area ranked No. 6 in the study, just after Hinesville-Fort Stewart, Georgia.
See the complete list of the top 30 cities for millennial VA buyers.