Total Military

2012 Home Equity

Total Military
Underwater38%
Not Underwater53%

Total Military by Financially Dependent Children

% Have Home Underwater

Home underwater
Financially Dependent Children42%
No Financially Dependent Children32%
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Because self-reported home values are often inaccurate, the survey used a simple measure of home equity that asked participants, "Do you currently owe more on your home than you think you could sell it for today?"

Relative to national norms, military homeowners in the sample were more likely to be underwater. This may be due to the incidence of zero-percent down payments (30% reported putting zero-percent down) and relatively recent home purchases (84% purchased their homes within the last 10 years, a period of high volatility for home values). Respondents with financially dependent children, as well as entry-level enlisted and senior-level enlisted personnel, are more likely to owe more than their home is worth.