Military life has trade-offs that civilians often don't see — but it also has substantial benefits. This 2026 guide covers the major financial, healthcare, education, and lifestyle perks that come with military service, with specific notes for service members stationed in Hampton Roads.
Key takeaways at a glance
- VA loan benefit — $0 down, no PMI, generous seller concessions; one of the most valuable financial benefits in America.
- TRICARE health coverage — comprehensive, low-cost healthcare for service members and dependents.
- GI Bill education benefits — Post-9/11 GI Bill covers college tuition + housing allowance + book stipend.
- Tax advantages — combat pay tax exclusion, state tax exemptions for service members, MCC programs.
- Travel benefits, base shopping (commissary/exchange), TRICARE Dental, life insurance (SGLI/VGLI), retirement pension, free Space-A travel.
| Benefit | What It Provides | Eligibility |
|---|---|---|
| VA Loan | $0 down + no PMI | Active duty, vets, spouses |
| TRICARE | Comprehensive healthcare | Active + retired + dependents |
| Post-9/11 GI Bill | Tuition + housing + books | Active + transferable |
| SDP Savings Deposit Program | 10% guaranteed on $10k deployed | Combat-zone deployment |
| SCRA | 6% interest cap on pre-service debt | Active duty |
| Combat Pay Tax Exclusion | Federal tax-exempt | Combat zone service |
| Disabled Veteran Property Tax | Full VA property tax exemption | 100% P&T disabled |
In this guide
The VA loan benefit
One of the single most valuable benefits available to service members. $0 down payment, no monthly mortgage insurance, capped closing costs, and the most generous seller concessions in any U.S. mortgage program. Reusable. Full VA loan guide.
TRICARE healthcare
Comprehensive health coverage for active duty and dependents at very low out-of-pocket costs. Multiple plans (TRICARE Prime, Select, etc.) tailored to different family situations and locations.
Education benefits
The Post-9/11 GI Bill covers tuition + a monthly housing allowance + book stipend for up to 36 months of college. Transferable to spouse or dependents. Plus tuition assistance for active-duty courses, plus the Yellow Ribbon program for private school overage.
Tax advantages
Combat pay is federal-tax-exempt. State tax exemptions for nonresident service members. Many states (including Virginia) offer disabled-veteran property tax exemptions. The Military Spouse Residency Relief Act lets spouses retain home-state tax residency.
Retirement and pension
The Blended Retirement System combines a smaller pension (after 20 years) with TSP contributions and matching, plus continuation pay. The 20-year cliff vesting model has changed; talk to a financial counselor about your specific situation.
Base shopping & lifestyle
Commissary (groceries at near-cost), Exchange (general merchandise tax-free), MWR programs, base gyms, Space-A travel, and a thousand smaller perks scattered through daily life.
Community
Underrated but real. Hampton Roads has the densest concentration of military service in the country, which means built-in community for new arrivals — particularly important on PCS.
Frequently Asked Questions
What's the best financial perk of military service?
For most service members, the VA loan benefit is the single most valuable. Combined with the TRICARE healthcare and Post-9/11 GI Bill, the financial package is substantial.
Does my spouse get military benefits?
Many. TRICARE coverage (with the right plan), commissary access, MWR programs, the ability to receive transferred Post-9/11 GI Bill, and survivor benefits are all available to military spouses.
What is the VA loan benefit worth?
For a Hampton Roads buyer using the VA loan vs. FHA on a $325k home, the savings can be $20k-$40k+ over 10 years (no PMI, lower upfront costs, generous seller concessions).
What is the Post-9/11 GI Bill?
Federal education benefit covering up to 36 months of tuition + housing allowance + book stipend at most accredited US universities. Transferable to spouse or dependents under specific conditions.
What are MWR programs?
Morale, Welfare, and Recreation — base-run programs offering discounted travel, recreation, fitness, library, and family activities. Free or low-cost for service members.
Is military pay tax-exempt?
Combat pay is federal tax-exempt. Regular base pay is federally taxed. State taxation varies — many states (including Virginia for non-resident military) offer exemptions.
What is Space-A travel?
Space-Available travel — military service members can fly free on military aircraft when seats are available. Great for international travel; planning is harder due to availability.
What is the disabled veteran property tax exemption in Virginia?
Virginia exempts the primary residence of veterans rated 100% permanent and total disabled (and certain surviving spouses) from city/county property taxes. Apply through the commissioner of revenue.
Have a question about your home purchase?
Talk to a Hampton Roads buyer's agent or loan officer who can walk through your specific situation - no pressure, no obligation.
Sources & further reading
- U.S. Department of Veterans Affairs
- TRICARE
- VA — Education benefits (GI Bill)
- Military OneSource
- Virginia Department of Veterans Services
Information reflects 2025-2026 conditions and rules. Always confirm current details with the relevant agency, lender, or licensed professional before relying on any specific figure or rule.
About the Author
The VaHome Team is dedicated to providing expert real estate insights for Hampton Roads, Virginia. Contact us at (757) 777-7577 or tom@vahomes.com.
About the Hampton Roads Real Estate Market
Hampton Roads is one of the most dynamic real estate markets on the East Coast, anchored by the largest naval complex in the world at Naval Station Norfolk and home to roughly 120,000 active-duty, reserve, and civilian Department of Defense personnel. The region spans seven cities — Virginia Beach, Norfolk, Chesapeake, Suffolk, Portsmouth, Hampton, and Newport News — plus the Peninsula communities of Williamsburg, Yorktown, and Poquoson, with each market carrying its own personality, school district, and price profile.
Buying or selling here means thinking about more than just a house. Tidewater geography means flood zones, hurricane preparation, and waterfront premiums matter. Military presence means BAH affordability, PCS season inventory crunches (May through August), and VA loan eligibility are top of mind for a meaningful share of every neighborhood. School quality varies block by block, especially across the seven independent city school divisions, and is often the deciding factor for relocating families.
Why Buyers and Sellers Choose VaHome
The VaHome Team — Tom and Dariya Milan with LPT Realty — focuses on the Hampton Roads region with deep expertise in military relocation, VA financing, and the trade-offs that local buyers actually face. From listing strategy that gets your home in front of the right relocating buyer to buyer representation that respects your BAH cap and PCS timeline, the team treats every transaction as a long-term relationship. The site is built to make decisions clearer: BAH-aware search, drive-time mapping to every major installation, neighborhood guides written by people who live here, and a calculator that shows real monthly cost — taxes, insurance, HOA, and PMI included — instead of a teaser headline number.
Plan Your Next Move
Whether you are buying your first home with a VA loan, moving up while your kids transition between school districts, or selling a Hampton Roads property to relocate to your next duty station, the resources on this site are organized around the questions you are actually asking. Browse listings filtered by base proximity, paygrade-aware BAH cap, and commute time. Read neighborhood guides for Virginia Beach, Norfolk, Chesapeake, Suffolk, Hampton, Newport News, Williamsburg, and the Peninsula communities. Use the mortgage calculator to compare conventional, FHA, VA, USDA, and jumbo loan scenarios side by side. When you are ready to talk, the contact form goes directly to a specialist who knows the area, the lenders, and the timing.