Almost 40% of the sample (N=2,693) had experienced past homelessness; 13% (N=866) reported recent homelessness, and 11% (N=714) reported recent shelter use. Almost 11% (N=780) had a diagnosis of major depressive disorder, 9% (N=603) had a PTSD diagnosis, 6% (N=378) had an anxiety disorder diagnosis, and 4% (N=271) had a diagnosis of schizophrenia. Compared with participants without depression, a significantly higher proportion of depressed veterans reported past homelessness (60%, N=468, versus 37%, N=2,234), current homelessness (24%, N=187, versus 11%, N=682), and current shelter use (22%, N=169, versus 9%, N=544; chi square test, p<.01 for all). Similarly, veterans with PTSD and schizophrenia reported significantly higher rates of past and current homelessness than veterans without these diagnoses. When the logistic regression models controlled for age, race, gender, socioeconomic status, as well as frequency of alcohol and drug use, depression emerged as one of the strongest risk factors, doubling or nearly doubling the risk across all three measures of homelessness (past homelessness, odds ratio [OR]=2.12, 95% confidence interval [CI]=1.79–2.50; current homelessness, OR=1.95, CI=1.60–2.38; and current shelter use, OR=2.08, CI=1.67–2.58). Compared with veterans without schizophrenia, those with this diagnosis were more likely to report past homelessness (OR=2.01, CI=1.52–2.64), current homelessness (OR=1.39, CI=1.01–1.92), and current shelter use (OR=1.77, CI=1.27–2.47). PTSD and anxiety were not associated with homelessness.