A place to call home is often times one of the few constants for the families of the brave men and women defending our country.
At a median age of 34 years old, the typical active-service buyer was a lot younger than non-military buyers (40 years old) and was more likely to be married and have multiple children living in their household. As a result, they typically bought a larger home that cost more than those purchased by both non-military buyers and veterans.
The median income of veteran and active-service member homebuyers in the survey was slightly lower than buyers who’ve never served in the military, which was $86,500. Active-service buyers typically bought a 2,170-square-foot home that cost more($226,000) than those purchased by non-military buyers and veterans. Veteran buyers had a median income of $84,000, and they typically bought a 1,980-square-foot home costing $220,000.
The primary reason for the home purchase for active-service military was job relocation, followed closely by the desire to own a home of their own. It’s also a good financial investment!