The LGBTQ community, estimated to hold the potential for $1 trillion in buying power, has long been regarded as a bright spot for the housing market. But many members of this community have shied away from purchasing a home because they don’t always feel welcome in their neighborhoods, according to reports. The homeownership rate for the LGBTQ population is 49.8%, which is far below the U.S. average of 65.8%.
In conjunction with Pride Month, realtor.com®’s data team identified the places that are not only known for being gay-friendly but also affordable. The research team uncovered several smaller cities with thriving LGBTQ cultures as well as college towns that have strong anti-discrimination laws. “LGBTQ folks want an equitable experience,” Ryan Weyandt, CEO of the LGBTQ+ Real Estate Alliance, told realtor.com®. “You don’t [want] to walk out your door and go into a world that’s abrasive and wants to judge you.”
To come up with the best markets for LGBTQ home buyers, realtor.com® found states that had at least 2.5 married or cohabiting same-sex couples per 1,000 residents; cities that received a score of 100 on the Human Rights Campaign’s annual Municipal Equality Index, a reflection of how the LGBTQ community assesses equality in cities’ policies, laws, and services; and median home list prices in May. Researchers also limited their rankings to one city per state to ensure geographic diversity. The following areas topped their list for 2021:
1. Pittsburgh
- Median list price in May: $299,050
2. Providence, R.I
- Median list price: $299,950
3. Virginia Beach, Va.
- Median list price: $337,050
4. Fort Lauderdale, Fla.
- Median list price: $349,950
5. Madison, Wis.
- Median list price: $350,050
6. Bloomington, Ind.
- Median list price: $359,050
7. Atlanta
- Median list price: $450,050
Source: “Pride Progresses in Unlikely Places: 10 Best Cities for LGBTQ Home Buyers,” realtor.com® (June 7, 2021)
