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Military Families Hit Hard by the Housing Crunch

Person in a military uniform holding a little blue house

A recent report from Housing Wire suggests that military families could be some of the hardest hit by the soaring home prices in many U.S. cities. Overseas deployment has declined over the past several years, meaning more military families are looking to rent and buy in the U.S. and adding to the high demand for affordable housing options. Only 34% of military members nationwide are homeowners, compared to 64% of all American households.

In some North Carolina cities—like Raleigh, Asheville, and Wilmington—less than 30% of housing stock is affordable to lower-earning military members. However, the North Carolina Housing Finance Agency offers several products to assist veterans buy or maintain homes, including the NC Home Advantage™ Mortgage and the Single-Family Rehabilitation Program.