Homes Are Valued Average 34.8% More
Zillow finds homes near military bases are valued an average 34.8% more than the median home in America. Homes near Army bases go for $50,000 above the median, while homes near Navy, Coast Guard, and Marine bases are valued at $90,000 or more than the national median. (Source: The War at Home: Examining Home Values Near Military)
More Long-Term Renters
With new recruits constantly arriving at military bases, the demand for housing in these areas is as strong as in other highly desirable niche markets – like property near universities. However, because time spent in the military is often significantly longer than the average time it takes to grab a college degree, landlords with property near military bases are more likely to land long-term renters.
A Waiting List Often Develops
Because off base properties are usually rented by families, even if the service member gets deployed the property will remain occupied by the other family members.This means that the demand for quality rental properties near a military facility can be so strong, yet the supply so short, that a waiting list often develops.
Basic Allowance for Housing
Basic Allowance for Housing (BAH) is an allowance that provides military equitable housing compensation based on housing costs in local markets. BAH is only to be used for rental costs off base and cannot be used towards mortgage payments, property taxes, etc. The Allowance is based on rank.
Steady Economy
Even when other parts of the country are experiencing a slump in the housing market, the steady economy of a military base keeps the market strong for adjacent and surrounding properties.
