Homebuying in LGBTQ+-friendly metros comes with a price
Add Axios as your preferred source to
see more of our stories on Google.
People need to earn $150,000 to afford the typical home in LGBTQ+-friendly areas — nearly 50% higher than areas without LGBTQ+ protections, according to a recent Redfin study.
Why it matters: The homebuying barrier is higher for LGBTQ+ people than their cisgender and/or straight counterparts.
The big picture: The LGBTQ+ homeownership rate is 20 percentage points lower than the rate for straight and cisgender people, per the Urban Institute.
- Income inequality is partly to blame, especially for trans people of color, research shows.
- Larger cities (often with higher costs of living) tend to offer more LGBTQ+ protections. In San Francisco, there's a $223,000+ gap between median incomes and income needed to afford the typical home there.
Zoom in: Despite a nearly $30,000 gap between household incomes and the income needed to afford a median-priced home, the D.C. area is relatively affordable compared to other metros with large LGBTQ+ populations, per Redfin's report.
- D.C.'s proposed 2025 budget includes millions of dollars to support local LGBTQ+ communities, including a hub where LGBTQ+ people in the region can access a range of services.
Between the lines: States with relatively affordable housing may not be safe for LGBTQ+ communities.
- For instance, Louisville, Kentucky, is one of few metros where the median-priced home is considered affordable, but the ACLU is tracking 14 anti-LGBTQ+ bills in the state currently.
Reality check: Even in metros with LGBTQ+-friendly protections, the homebuying process can be scary.
What they're saying: "Safety is the state you live in, down to your neighbors," David Siroty, a spokesperson for the LGBTQ+ Real Estate Alliance, tells Axios.
- "If your neighbors accept you, would they accept you having kids? There are considerations outside of the financial."
