LGBTQ homeownership facts and statistics 2022

A 2021 US census data survey found the Bay Area’s San Francisco the Gayest City in America! The Castro and Soma were named the world best gay neighborhoods by SFTravel.com. This pride month, we are celebrating LGBTQ home ownership.

More than 50 years ago the Fair Housing Act came into action, which legally guarantees that LGBTQ community cannot be discriminated against throughout the home ownership process. In 2021 the National Association of Gay and Lesbian Realtors found the LGBTQ home ownership rate is around 49% and the median age of buyers is 42. According to this report, only 11% of LGBTQ folks say they’d prefer to rent over buying. This indicates a strong desire for home ownership. The NAGLR report found that LGBTQ folks are less likely to purchase a multigenerational home and more likely to have purchased a townhouse, row house, duplex or condo.

An article by MassMutual published on June 2, 2022 advises that LGBTQ couples looking to buy a home should prepare by following 5 main steps: check your credit score, mind your debt-to-income ratio, prepare for the down payment, know your rights, and review your pre-marital assets 64% of the general population own homes, so while pride month is a time to celebrate progress and improvement, at 49% homeownership rate for LGBTQ people, we have room to grow in this area.

The Monday team is very passionate about housing equity. We look forward to doing the work to help close this gap. At the same time that the housing market has been booming, the pandemic hit the LGBTQ community in a real way. It will be interesting to read the new US Census numbers on home ownership for 2022!