Veterans Are Outpacing Other Americans in Homeownership, New Research Finds

Veterans Lead in Homeownership, but Affordability and Benefit Awareness Remain Challenges

New research finds higher homeownership rates among veterans and a narrower racial homeownership gap, highlighting opportunities to help more military families build long-term financial security

MINNEAPOLIS (Nov. 9, 2026) — Veterans are significantly more likely to own a home than non-veterans, yet affordability challenges and limited awareness of available benefits may keep some military families from achieving homeownership. This Veterans Day, Homes for Heroes,  a national hero savings program dedicated to helping firefighters, EMS, law enforcement, military members, healthcare professionals and teachers save money when buying or selling a home, is highlighting new research on veteran homeownership and the resources that can help more military families build long-term wealth.

According to 2024 American Community Survey data, 77% of veterans own their homes, compared with 60% of non-veterans. Among households under age 35, homeownership rates are 46.6% for veterans and 31.9% for non-veterans.

Veterans have a homeownership edge in major metro areas, with the widest gap in Virginia Beach, Va., where 80.0% own their homes, compared with 57.4% of non-veterans. Among adults under age 35, Memphis, Tenn., has the largest gap, with 66.0% of young veterans owning homes, compared with 46.9% of their non-veteran peers.

The research also reveals a narrower racial homeownership gap among veterans. Nationally, the gap between white and non-white households is 22.6 percentage points, compared with 13.6 percentage points among veteran households. While these findings do not establish that military service causes higher homeownership, they highlight an important opportunity to help more veterans overcome financial barriers and access the resources available to them.

“Veterans have earned valuable benefits through their service, but not everyone knows what is available or how to use those benefits when buying a home,” said Amit Kulkarni, Chief Executive Officer of Homes for Heroes. “Connecting veterans with knowledgeable real estate professionals, homebuying resources and additional savings can help make homeownership more attainable and support long-term financial security.”

Understanding VA loans and other homebuying benefits

Homeownership can be an important pathway to wealth creation. Federal Reserve data show that the median wealth of the typical homeowner is more than 40 times that of the typical renter. For eligible veterans and service members, understanding available benefits can help reduce the costs of buying and maintaining a home.

The VA loan program allows eligible veterans and service members to purchase a home with no down payment in many cases and without monthly private mortgage insurance (PMI), reducing two significant homebuying costs. However, misconceptions about VA loans and limited awareness of available benefits may keep some eligible buyers from exploring their options. VA loans are not limited to first-time homebuyers: eligible borrowers may reuse their benefits, subject to entitlement rules and other requirements. Some borrowers may also qualify for an exemption from the VA funding fee.

Beyond VA home loans, other resources may help eligible military families reduce housing costs, including:

• Disability benefits and qualifying military income: VA disability compensation is tax-free and may count toward mortgage qualification. Verified Basic Allowance for Housing  may also count as qualifying income, subject to lender requirements.
• Disability-related housing grants: Eligible veterans with certain service-connected disabilities may qualify for grants to purchase, build or adapt a home to meet accessibility needs.
• State and local assistance: Programs may offer down-payment or closing-cost assistance, veteran-specific financing and property tax relief. Availability and eligibility vary by location.
• Specialized housing and nonprofit programs: Certain organizations provide specially adapted or mortgage-free homes to selected qualifying veterans and their families.
• Benefits after purchase: Eligible homeowners may be able to refinance through a VA Interest Rate Reduction Refinance Loan, while qualifying service members may have additional protections under the Servicemembers Civil Relief Act.

To help military families better understand these options, Homes for Heroes offers its Veterans Home Loan Guide, which summarizes major federal benefits and state, local and nonprofit assistance programs.

Hero Rewards from Homes for Heroes

Separately from any government benefits, Homes for Heroes offers its own private savings program. Eligible military members and veterans who buy through a participating real estate specialist can receive, where permitted by law, Hero Rewards generally equal to 0.7% of the purchase price, subject to program terms and transaction circumstances. Hero Rewards are not available in all states and may vary depending on applicable state law.

For example, on a qualifying $400,000 home purchase, a veteran or service member could, where permitted by law, receive $2,800 in Hero Rewards, provided as a check after closing, subject to program terms. Participants may also qualify for additional savings through participating mortgage, title and inspection providers, and can use the Homes for Heroes benefits repeatedly. 

Methodology

This analysis uses 2024 American Community Survey five-year microdata for the nation’s 50 largest metropolitan areas. Homeownership rates were compared across veteran and non-veteran households, households under age 35, and white and non-white households. The analysis also references Federal Reserve data on homeowner and renter wealth and U.S. Department of Veterans Affairs data on fiscal year 2025 loan activity. Homeownership differences are descriptive associations and do not establish causation. Program eligibility, funding and terms vary and may change.

About Homes for Heroes

Founded in 2002, Homes for Heroes is a national hero savings program, dedicated to providing significant savings and support to the heroes who serve our communities every day. Through its nationwide network of real estate, mortgage, and local business specialists, Homes for Heroes has helped more than 80,000 military personnel, veterans, law enforcement officers, firefighters, EMS professionals, healthcare professionals, and teachers save over $166 million on their real estate transactions. To learn more, visit HomesforHeroes.com.