LGBTQ+ buyers and renters are still facing discrimination.
According to the LGBTQ Real Estate Alliance’s report, Discrimination And Its Impact On LGBTQ Community: Real Estate Professionals And Consumers, nearly 18% of members believe that discrimination against the community has increased, while 38.3% said that there has been no change. (Nearly 26% reported there had been a decrease.) More than 20% reported that real estate agents discriminated against a would-be homebuyer, 19% said legal forms needing signature did not adequately represent life experiences of potential homebuyer, 17.4% said the seller discriminated against prospective homebuyer, 8.9% said the seller refused to sell to prospective homebuyer and 4% said the mortgage lender quoted higher rates or worse terms. Thirty percent reported renters facing discrimination, while 31% said they have not.
For those in the LGBTQ+ community who are still renting, the obstacles they face are similar to their peers. More than three-quarters reported that home prices are stopping them from buying, while nearly 62% said lack of down payment funds is preventing them and 26.7% said they don’t understand the process. About 12% said they are fearful of discrimination. However, 30.4% said they are saving more for a down payment.
Nearly two-thirds of agents in the survey have reported an increase in LGBTQ+ homeowners since same-sex marriage became legalized seven years ago. Forty-two percent said they have noticed an increase of LGBTQ+ singles becoming homeowners in the same time period as well. Forty percent reported an uptick in LGBTQ+ buyers choosing communities that are not considered “LGBTQ+-friendly.”
Today, the LGBTQ+ communities represents 7.1% of all adults, with Generation Z and millennials representing the largest percentages.
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