Saturday, October 12, 2019

Why do millennial veterans prefer to live in South Florida?

South Florida is one of the places where buying a house is not only an investment. Thanks to its characteristics, it also makes it the ideal place where millennial veterans and service members seek to put down their roots.

According to a new study conducted by Veterans United Home Loans, which looked at the volume of VA purchase loans for millennials in 2018 compared to 2015, younger veterans and service members are driving the continued growth of the VA loan program. The study showed that VA purchase loans increased in the 2019 fiscal year for the eighth consecutive year, and millennial and Generation Z buyers accounted for 45 percent of all home purchases.

Among the cities that were listed for their growth in VA purchase loan volume, Florida included three. The first one was Fort Walton Beach-Crestview-Destin, FL, the second Jacksonville, FL, and the third Tampa-St. Petersburg-Clearwater, FL. The report noted that the average purchase price in South Florida among millennial voters was $316,611.

South Florida has a lot to offer veterans and military families, from cultural and lifestyle services to a strong economy with relatively low unemployment.

Those advantages have made Generation Z and millennial veterans and members some of the strongest and most successful home buyers in the market, and they are making their presence felt in communities across the country.

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