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Active duty military personnel buying a home tend to be younger than the civilian population and put no money down on their purchase, according to the National Association of Realtors’ 2018 Veterans & Active Military Home Buyers Profile.
The new report found the median age for typical active-duty military personnel homebuyer was 34, compared to 42 for civilians. Active-duty military personnel homebuyers were also more likely to be married, have children and favor larger homes than their civilian counterparts. This demographic typically has lower median incomes ($84,000), albeit with more stable job security.
The report also found that 56 percent of active-duty military personnel and 41 percent of veterans put no money down when buying a home. Only seven percent of non-military buyers go that route. And when it comes to relocation, 82 percent of active-duty military personnel will move for their job, while 33 percent admitted they sought to profit from flipping their home and 11 percent were seeking a better neighborhood.
