Skip to Content

Top 50 Cities for Millennial and Generation Z VA Buyers in Fiscal Year 2021

Millennial and Gen Z Veterans accounted for more than half of all VA purchase loans in a record year for this historic benefit program. Gen Z in particular is starting to make its presence felt in markets across the country.

Map of U.S. with circles showing the best cities to use VA loans.
Map of U.S. with circles showing the best cities to use VA loans.

Millennial and Generation Z homebuyers helped drive the VA loan program to a record year in Fiscal Year 2021.

The VA backed more than 1.4 million loans in FY21, eclipsing last year's previous all-time high by nearly 200,000 loans. VA purchase loans were up 3.6% from last year, marking the 10th consecutive year of annual increases. With rates still hovering near modern-day lows, refinance remained the story of VA lending this fiscal year.

But younger homebuyers continue to make their mark in a major way.

Millennial and Gen Z Veterans accounted for 52% of all VA purchase loans in FY21, a 6.6% increase from last fiscal year.

While Millennials represent the bulk of VA purchase lending, Gen Z in particular is starting to make its presence felt in markets across the country. VA purchase loans were up 84% year over year for this group.

Key Takeaways for Top 50 Metro Areas

  • Virginia Beach again topped the list for most VA purchase loans to Millennial and Gen Z Veterans (10,477), followed by Washington, D.C. (8,099), San Antonio (5,541), Colorado Springs (5,022) and Dallas-Fort Worth (4,515). The Top 5 were the same five cities as the previous two years, with Colorado Springs jumping ahead of Dallas this year.
  • Nearly half of the Top 50 metro areas came from Texas (six), Florida (six), Georgia (five), North Carolina (four) and Washington (three).
  • 22 markets saw a year-over-year increase of 10% or more, while seven markets experienced a 20%+ increase.
  • Fayetteville, N.C., jumped four spots from last year to round out the Top 10.

Top 50 Cities for Millennial and Gen Z VA Buyers

MSA FY 2020 VA Purchase Loans FY 2021 VA Purchase Loans % Difference
Virginia Beach-Norfolk-Newport News, VA-NC 8,532 10,477 22.8%
Washington-Arlington-Alexandria, DC-VA-MD-WV 6,969 8,099 16.2%
San Antonio, TX 4,919 5,541 12.6%
Colorado Springs, CO 4,770 5,022 5.28%
Dallas-Fort Worth-Arlington, TX 4,791 4,515 -5.76%
San Diego-Carlsbad-San Marcos, CA 4,368 4,308 -1.37%
Houston-Sugar Land-Baytown, TX 3,433 3,752 9.29%
Riverside-San Bernardino-Ontario, CA 3,260 3,702 13.5%
Phoenix-Mesa-Scottsdale, AZ 3,928 3,688 -6.11%
Fayetteville, NC 2,951 3,588 21.5%
Jacksonville, FL 3,297 3,399 3.09%
Clarksville, TN-KY 2,859 3,293 15.2%
Killeen-Temple-Fort Hood, TX 2,786 3,278 17.6%
Atlanta-Sandy Springs-Marietta, GA 3,130 3,232 3.26%
Jacksonville, NC 3,034 3,187 5.04%
Seattle-Tacoma-Bellevue, WA 3,138 3,141 0.10%
Baltimore-Towson, MD 2,536 2,982 17.5%
Tampa-St. Petersburg-Clearwater, FL 2,666 2,779 4.24%
Las Vegas-Paradise, NV 2,466 2,722 10.4%
Chicago-Naperville-Joliet, IL-IN-WI 2,473 2,721 10%
Pensacola-Ferry Pass-Brent, FL 1,982 2,261 14.1%
Denver-Aurora, CO 2,312 2,240 -3.11%
Fort Walton Beach-Crestview-Destin, FL 1,917 2,213 15.4%
St. Louis, MO-IL 1,840 2,081 13.1%
Honolulu, HI 1,651 1,975 19.6%
Augusta-Richmond County, GA-SC 1,685 1,970 16.9%
El Paso, TX 1,629 1,929 18.4%
Oklahoma City, OK 1,843 1,821 -1.19%
Los Angeles-Long Beach-Santa Ana, CA 1,667 1,799 7.92%
Charleston-North Charleston, SC 1,565 1,615 3.19%
Minneapolis-St. Paul-Bloomington, MN-WI 1,594 1,584 -0.63%
Kansas City, MO-KS 1,413 1,504 6.44%
Columbia, SC 1,271 1,492 17.4%
Savannah, GA 1,173 1,479 26.1%
Tucson, AZ 1,407 1,433 1.85%
Austin-Round Rock, TX MSA 1,601 1,394 -12.9%
Miami-Fort Lauderdale-Pompano Beach, FL 1,300 1,359 4.54%
Olympia, WA 1,265 1,337 5.69%
Orlando-Kissimmee, FL 1,270 1,315 3.54%
Portland-Vancouver-Beaverton, OR-WA 1,224 1,282 4.74%
Columbus, GA-AL 1,013 1,258 24.2%
Sacramento-Arden-Arcade-Roseville, CA 1,234 1,245 0.89%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 1,170 1,241 6.07%
Richmond, VA 1,008 1,213 20.3%
Hinesville-Fort Stewart, GA 734 1,210 64.8%
Nashville-Davidson-Murfreesboro-Franklin, TN 1,252 1,208 -3.51%
Anchorage, AK 931 1,194 28.3%
Omaha-Council Bluffs, NE-IA 1,236 1,154 -6.63%
Detroit-Warren-Livonia, MI 1,113 1,136 2.07%
Charlotte-Gastonia-Concord, NC-SC 1,164 1,128 -3.09%

Check Your$0 DownEligibility Today!

Don't miss your shot at our $75,000 Home Giveaway
No purchase necessary; see official rules for details.