Abstract: There is growing interest in assisting individuals who return to homelessness after obtaining permanent housing. However, little evidence exists on those who make multiple exits to permanent housing and subsequently return to homelessness over time. This study estimated the rates of multiple returns to homelessness among Veterans who accessed permanent housing and identified Veteran characteristics associated with these returns. The study used several Department of Veterans Affairs (VA) administrative data sources to calculate rates of multiple returns to homelessness within 12- and 24-months among Veterans who exited a VA homeless assistance program to a permanent housing destination between January 2018 and April 2021. Binary logistic regression models assessed the association between Veteran characteristics and multiple returns. Roughly 0.4% and 2.2% of Veterans experienced multiple returns to homelessness within 12- and 24-months, respectively. Diagnoses of alcohol use disorder, drug use disorder and psychoses were the most prominent predictors of higher odds of multiple returns. Although rare, multiple returns to homelessness highlight the need for targeted supports to help prevent recurrent homelessness and promote long-term housing stability.