Homebuyers who identify as LBGTQ+ reportedly tend to purchase older, smaller homes than their non-LBGTQ+ counterparts. This demographic also report planning to live in their new homes for 10 years, an average of five years less than buyers who identify as cisgender and/or straight. These findings come from the 2021 Profile of LGBTQ Home Buyers and Sellers from the National Association of Realtors (NAR), whose research team also found that LGBTQ+ buyers and sellers were more likely than non-LGBTQ to be single men and unmarried couples and were more likely to identify as male than as female. Also, buyers and sellers who identified as bisexual were more likely than other groups to be younger, be first-time homebuyers or sellers, and report lower incomes.
“Understanding how buyers navigate the housing market is essential to Realtors,” said Jessica Lautz, NAR’s VP of demographics and behavioral insights. “This report details the impact of the housing affordability challenges on LGBTQ buyers, who typically had lower household incomes and were more likely to be purchasing more affordable homes.”
Learn more here: Examining Buying, Selling Behaviors of LBGTQ+ Homeowners