Study: LGBs In The Homebuying Market

A gay couple searches the internet for a new home
Gay couple searching internet for new home (stock photo via Depositphotos)

The National Association of Realtors recently released its first-ever Profile of Lesbian, Gay and Bisexual Buyers and Sellers.

Crunching the numbers from four years of data, the report shows some definite differences in how LGB folks feel about, and approach, homeownership compared to heterosexuals.

When it comes to first-time buyers:

• 58% of bisexual homebuyers surveyed indicated they were purchasing their first home

• 36% of gay and lesbian buyers said the purchase was their first

• 32% of heterosexuals indicated it was their first trip to the real estate rodeo

Bisexuals were the youngest homebuyers, stepping up to the plate at median age 36-years-old, but with the lowest median income of $62,400.

Gay and lesbian buyers were the oldest demo at a median age of 45-years-old, but a much higher median income of $92,900.

Heterosexuals tend to buy around age 44 and with a median income of $91,200.

Bisexuals leaned towards smaller homes (median square footage of 1,840) and showed a preference for small towns (22%).

Gays and lesbians were more likely to buy in large cities or urban centers (28%) and chose larger homes (median square footage of 1,900).

The straight crowd liked bigger and newer homes (median square footage of 2,060) with a majority (53%) preferring the suburbs.

The report utilized data from 22,521 respondents. Of those, 3 percent identified as gay or lesbian, while 1 percent indicated being bisexual.

Check out the info-graphic below. And for more detail, click over to the National Association of Realtors.

Note: The full report addressed the absence of transgender respondents saying, ”’Transgender’ was not included as a response option in the NAR study because ‘transgender’ reflects gender identity rather than
sexual orientation. A separate question on gender identity, including non-binary identification, will be included in future studies.”

(image via NAR)

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