Housing affordability, cost-of-living, crime rates among key factors in rankings
Veterans United Home Loans, a VA lender, has unveiled its 2024 list of the Best Cities for Veterans to Live, with Tampa, Florida, claiming the top spot.
The East Coast and Midwest dominated the rankings, reflecting their growing appeal among veterans and service members seeking to settle down.
Leading the pack was Tampa, Fla., followed by Rochester, Minn.; Wichita Falls, Texas; Fargo, N.D.; and Virginia Beach, Va., rounding out the top five. The remaining cities in the top 10 were: Watertown, N.Y.; Charleston, S.C.; Medford, Ore.; Altoona, Pa.; and Sioux Falls, S.D.
The cities were selected based on an analysis of over 500 metropolitan markets, considering factors such as cost-of-living, crime rates, housing affordability, and the strength of the local veteran community.
“Our in-depth analysis factors in feedback and priorities from hundreds of Veterans we surveyed, so we can really dig into what those who serve are looking for when it comes to planting roots and building communities,” Chris Birk, vice president of mortgage insight at Veterans United, said in the report.
On costs, Sioux Falls emerged as the most affordable city in the top 10, with a cost-of-living score of 90.17, closely followed by Wichita Falls at 90.13. Virginia Beach ranked as the most expensive at 85.56, slightly above the national average of 86.64.
Crime rates also factored heavily, with Rochester boasting the lowest rates among the top cities at 90.71 versus the national average score of 80.72 on the study’s crime index.
For housing affordability, five cities (Altoona, Wichita Falls, Fargo, Watertown and Sioux Falls) had median home prices below the national median of $383,538. Altoona claimed the lowest at $129,950, while Tampa topped the list at $415,500.
Veterans also prioritize quality of life factors like air quality, access to amenities and outdoor activities. The study lauded Tampa’s plethora of attractions and beaches.
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Perhaps most crucially, the rankings accounted for the strength of each area’s veteran community in terms of population size and state-provided benefits. Wichita Falls, located near Sheppard Air Force Base, scored highest at 166.71 versus the 128.1 average.
“These cities, both big and small, are great places to raise a family, offer healthy job markets, an abundance of outdoor activities to enjoy for those kicking off the next chapter after the military and provide ample opportunities to connect with fellow Veterans,” Birk said.
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