Mortgage News Real Estate Trends Surveys

LGBT homeownership rate lags behind, despite interest

Photo by Kirsty Lee on Unsplash

Though members of the LGBT community show strong interest in homeownership, their rates of doing so are significantly lower than the current national rate. Freddie Mac commissioned the recent study on LGBT home ownership, which also found many LGBT renters perceive owning as a good financial investment. LGBT home buyers ranked a LGBT-friendly neighborhood only behind home price and safety as significant priorities. 

Francis Monfort | Mortgage Professional America Magazine

While members of the LGBT community show strong interest in owning a home, the community’s homeownership is considerably lower than the current national rate, according to a study released by Freddie Mac.

Freddie Mac found that LGBT community members are less likely to own a home, are more mobile, fear discrimination when buying a home, and prioritize living in LGBT-safe neighborhoods.

A survey found that 49% of LGBT households are likely to own a home, lagging behind the 64.3% rate for the general population. Exploring the diversity within the community, Freddie Mac found that gay men and lesbians were the most likely to own (52%), while LGBT African-Americans (30%) and LGBT millennials (23%) were the least likely.

To read the full article, click here: Despite strong interest, LGBT homeownership rate lags behind

Related posts

Top Agent Magazine features John L. Scott broker Beth Allen

jlspr

John L. Scott Lake Tapps broker Lauri McLeod wins Rotarian of the Year Award

jlspr

Suburbs swell as a new generation escapes the city

jlspr