Military & Veteran Homeownership by Generation: A Market Analysis
Generation Households HH Income (Avg) Household Size (Avg) Ownership Rate Baby Boomers 5,214,189 $96,481 2.0 82.23% Gen X 2,531,788 $138,470 2.7 76.67% Silent Generation 2,485,516 $87,036 1.8 83.86% Millennials 1,975,968 $111,115 2.9 59.15% Gen Z 404,569 $68,843 2.1 25.12% Greatest Generation 518 $116,256 1.8 64.67%
This is a generational analysis of military households (active duty, reserves/guard, and veterans) highlights a key lifecycle trend: while older generations like Baby Boomers have homeownership rates over 82%, a major opportunity exists with younger cohorts.
The data is highly actionable for lenders.
- The largest cohort consist of 5.2+ million Baby Boomers, followed by Gen X with over 2.5 million.
- Nearly 2 million Millennial military households, despite a strong average income of $111,115, have an ownership rate of just 59.15%.
- This gap signals a need for targeted outreach, especially education on the VA Loan's powerful no/low down payment benefits. Their larger household size (2.9) also informs product suitability.
- For emerging Gen Z members, early engagement via financial literacy can build a long-term customer pipeline. By tailoring products to these underserved generations, lenders can tap into a loyal, financially capable market.
Methodology Note: Generations are defined by Pew Research: Greatest (1901-27), Silent (1928-45), Boomers (1946-64), Gen X (1965-80), Millennials (1981-96), Gen Z (1997-2012).
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