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.
