Same-sex couples pay a premium to live in more liberal states

Abstract

Homeowners in the top ten states with the highest share of same-sex couples are paying on average $116,730 more for their property than those in the ten states with the lowest percentage of LGBTQ households, according to a new LendingTree report. "While you might expect same-sex couples have to pay a little bit more to live in a more accepting area, when you realize that it's six digits more, I think it's a little bit shocking at first glance," said Jacob Channel, senior economist at LendingTree and the report's author. Almost a third of LGBTQ homebuyers said they moved to live in a more welcoming region, according to a 2018 Freddie Mac report focused on the LGBTQ community. As more same-sex couples have children, they look for neighborhoods with good schools, safe areas and proximity to their jobs, much like heterosexual couples. Statistically speaking, bisexual women are more likely to have lower incomes and to be the only earner in a household with children, said Lisa Herceg, director of business insights at the National Association of Realtors. To be accepted and comfortable, they move to urban areas, which tend to be more expensive. "Things get stacked up and stacked up with that particular group. So all that is making the current housing much more difficult for LGBTQ buyers in general."LGBTQ individuals face the same challenges as all other home buyers: lack of inventory and higher interest rates.