How gay, lesbian and bisexual buyers and sellers impact the industry

June marks Pride Month, in which we celebrate the progress the lesbian, gay, bisexual and transgender community has made and their impact on the world.

Lesbian, gay, bisexual and transgender people also have an impact on the real estate industry. The National Association of Realtors^®‘ recently released the Profile of Lesbian, Gay and Bisexual Buyers and Sellers, which analyzed four years of data regarding gay, lesbian and bisexual homebuyers and sellers.

The percentage of lesbian, gay or bisexual buyers and sellers has remained at around 4% since 2015, when NAR began conducting this research. The median age of lesbian and gay buyers and sellers is 45, comparable to heterosexuals’ median age of 44, but above bisexuals’ median age of 36. Relatedly, income of the median homebuyer is comparable between gay and lesbian buyers and heterosexual buyers, at just over $90,000, but lower for bisexual buyers, at $62,400, most likely due to the age gap.

Bisexual buyers were the most likely to be first-time buyers, at 58%, compared to lesbian and gay buyers at 26% and heterosexuals at 32%. Bisexual sellers were first-time sellers at 50%, while lesbian/gay sellers and heterosexual sellers were the same at 36%.

“As Realtors^®, we abide by the Code of Ethics and strive to provide affordable housing for everyone,” said PAR President Bill McFalls Jr. “With more LGBTQ+ buyers and sellers, we are fortunate to see such positive enthusiasm about the housing market.”

Thirty-eight percent of bisexuals said they are single females, while 25% of lesbian/gay buyers identified as single men and 38% of gay and lesbian couples said they were a married couple. Twenty-nine percent of bisexual buyers have a child, compared to 11% of gay and lesbian buyers and 38% of heterosexual couples.

Lesbian and gay homebuyers were most likely to want a home in an urban area, while bisexual buyers preferred a small town. Across all orientations, detached single homes were the most popular, followed by a townhouse or a row home. For bisexual buyers, the median square footage of their home purchases were 1,840 square feet, and a median year built of 1966, while lesbian and gay buyers’ homes had a median square footage of 1,900 and a median year built of 1974.