Report: Middle Tennessee among top areas where veterans are buying homes

NASHVILLE, Tenn. (WSMV) - A report from SmartAsset found which areas U.S. veterans are buying the most homes in 2024.

The report states that veterans earn certain benefits for home buying that aren’t available to the general population, including special loans through the Department of Veteran Affairs.

“With these benefits in mind, SmartAsset ranked the 40 largest metro areas based on demand among veteran homebuyers, using the most recently available mortgage data,” SmartAsset said.

While places like Virginia Beach, San Antonio, and Jacksonville take the top three spots, the Middle Tennessee area was listed just outside of the top 10. At No. 12, the Nashville-Davidson-Murfreesboro-Franklin area of the Midstate is garnering the most veterans in the state.

More than 2,500 VA loans were issued in 2023 with a 6.13% interest rate on top of a $425,000 median property value.

“To find where veterans are buying the most homes, SmartAsset reviewed Home Mortgage Disclosure Act data for 2023. Specifically, the number of originated VA loans was considered, relative to the size of the local population in the same metro area as according to 2022 U.S. Census Bureau data. The median income of new associated veteran homeowners, as well as subject property value and interest rates, were also considered,” SmartAsset said.