Top 10 Markets Where Military Households Have the Biggest Advantage

Saving for a down payment was the most difficult step of the homebuying process for 12% of American homebuyers, according to a recent study.

That’s really no surprise, considering the median down payment U.S. homebuyers plunked down from July to September of 2024 was an average of $30,300.

Military service members and veterans have earned the right to buy a home with 0% downpayment through a VA loan, which gives them quite a leg up in today’s volatile real estate market.

Big city, bigger advantages

Among the top 100 metropolitan areas, Myrtle Beach, SC, saw the highest homeownership among military households, at 92.9%.

Even though New York has one of the lower military homeownership rates among the top 100—at 71.5%—it ranks as one of the leading markets where military households enjoy a substantial advantage over their counterparts.

The average homeownership rate among military households in New York is 14.7 percentage points higher than for their non-military peers.

“Put simply, it’s hard to afford to buy a home in New York for everyone, but the combination of a minimal down payment and competitive mortgage rates has made it easier for military households to access homeownership in some of the nation’s least affordable markets such as this one,” explains Realtor.com® economist Jiayi Xu in her analysis.

Where military homeownership rates exceed non-military ones the most

Realtor.com economists recently pinpointed the places military homeownership rates notably exceed non-military rates.

To check out the top 10, scroll down below.

1. Stockton, CA

Median home listing price: $457,000

Homeownership rates among military households: 80.9%

Advantage over non-military peers: 18.8%

2. Des Moines, IA

Median home listing price: $239,950

Homeownership rates among military households: 88.8%

Advantage over non-military peers: 18.4%

3. Buffalo, NY

Median home listing price: $199,900

Homeownership rates among military households: 81.9%

Advantage over non-military peers: 16.7%

4. Syracuse, NY

Average home listing price: $175,000

Homeownership rates among military households: 84.4%

Advantage over non-military peers: 16.4%

5. Little Rock, AR

Average home listing price: $239,900

Homeownership rates among military households: 78.7%

Advantage over non-military peers: 15.5%

6. Fresno, CA

Average home listing price: $405,000

Homeownership rates among military households: 71.2%

Advantage over non-military peers: 14.9%

7. New York, NY

Average home listing price: $968,000

Homeownership rates among military households: 71.5%

Advantage over non-military peers: 14.7%

8. Memphis, TN

Average home listing price: $199,000

Homeownership rates among military households: 79.7%

Advantage over non-military peers: 14.3%

9. Virginia Beach, VA

Average home listing price: $409,900

Homeownership rates among military households: 71.6%

Advantage over non-military peers: 13.4%

10. Providence, RI

Average home listing price: $425,000

Homeownership rates among military households: 77.8%

Advantage over non-military peers: 13.4%

The Realtor.com Mission Zero campaign, in partnership with Veterans United, provides information on veteran homebuying benefits, including zero down loans.