Generation Z and Millennial Veterans Drive VA Purchase Loans to Eighth Straight Year of Growth

COLUMBIA, Mo.--()--Millennial and Generation Z Veterans and service members are making waves in housing markets nationwide, driving VA purchase loans to their eighth-straight year of growth in Fiscal Year 2019. These emerging generations accounted for nearly half of all VA home purchases in FY19 and were the only two demographics to experience year-over-year growth in purchase lending.

“Younger Veterans and service members don’t have to wait to put down roots thanks to their hard-earned home loan benefit,” said Chris Birk, director of education for Veterans United Home Loans, the country’s largest VA lender. “The VA loan program means Millennial and Gen Z buyers don’t have to spend years building the credit and savings their civilian counterparts often need. Seventy-five years later, VA loans are still fulfilling their original mission to expand access to homeownership for those who serve our country.”

VA loans allow qualified Veterans and service members to purchase with some big-time benefits, including $0 down payment, no mortgage insurance, more flexible credit guidelines and the industry's lowest average interest rates.

Credit score and down payment are two of the most common homebuying hurdles for Millennial and Gen Z civilians. Additionally, because of their education benefits, many younger Veterans aren’t burdened with mountains of student loan debt.

In all, Millennial and Gen Z buyers represented 45 percent of all VA purchase loans last fiscal year, which ended on Sept. 30.

To recognize this shift toward younger buyers, Veterans United Home Loans compiled a list of the Top 35 Cities for Millennial and Generation Z Buyers.

Top 10 Cities for Millennial and Generation Z Buyers

  1. Jacksonville, N.C
  2. Killeen-Temple-Fort Hood MSA, Texas
  3. Oklahoma City, Okla.
  4. El Paso, Texas
  5. Fort Walton Beach-Crestview-Destin MSA, Fla.
  6. Austin-Round Rock, Texas
  7. Jacksonville, Fla.
  8. Tampa-St. Petersburg-Clearwater MSA, Fla.
  9. Augusta-Richmond County, Ga.
  10. Las Vegas, Paradise, Nev.

About Veterans United Home Loans

Based in Columbia, Missouri, the full-service national lender financed more than $12.8 billion in loans in FY19 and is the country’s largest VA lender. The company’s mission is to help Veterans and service members take advantage of the home loan benefits earned by their service. The company’s employee-driven charitable arm, Veterans United Foundation, is committed to enhancing the lives of Veterans and military families nationwide by focusing on supporting military families and nonprofit organizations that strengthen local communities. Veterans United Home Loans and its employees have donated more than $51 million to the Foundation since its founding in November 2011. Learn more at | 1-800-884-5560 | 1400 Veterans United Drive, Columbia, MO 65203 | NMLS ID #1907 ( A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency. Equal Opportunity Lender. Mortgage Research Center, LLC.


Chris Cline
(573) 817-4523


Chris Cline
(573) 817-4523