Redfin’s latest survey of 5,000 buyers and renters reveals LGBTQ+ consumers disproportionately struggle with a lack of family support, saving a down payment and finding communities that protect gender, sexual and racial diversity.

No one can predict the future of real estate, but you can prepare. Find out what to prepare for and pick up the tools you’ll need at Virtual Inman Connect on Nov. 1-2, 2023. And don’t miss Inman Connect New York on Jan. 23-25, 2024, where AI, capital and more will be center stage. Bet big on the future and join us at Connect.

Record home prices and rising mortgage rates have made homeownership a daunting task for the majority of Americans; however, a new Redfin survey of 5,000 buyers and rentes shows weak familial support, student loan debt, wage and anti-LGBTQ discrimination create an immensely tougher path for LGBTQ+ consumers.

LGBTQ+ renters (23.5 percent) were 67 percent more likely than heterosexual renters (14 percent) to pause homebuying due to a lack of support from family and friends, and they were 61 percent more likely to say student loan debt has stopped them from buying a home (18.4 percent vs. 11.4 percent).

LGBTQ renters also reported having more difficulty than their non-LGBTQ counterparts with navigating home affordability (51.2 percent vs. 43.1 percent) and saving for a down payment (44.9 percent vs. 35.7 percent).

Daryl Fairweather

“Young people are often rewarded financially for fulfilling heteronormative expectations around getting married and having kids,” Redfin Chief Economist Daryl Fairweather said in a written statement on Wednesday. “For example, it’s common for a bride and groom to receive thousands of dollars in cash gifts when they get married, which they can put toward buying or renovating a home. LGBTQ+ couples, on the other hand, often get married later in life, and may not receive financial support if they’ve been shut out by their families.”

LGBTQ+ renters’ outsized struggle with affordability stems from wage discrimination, the report said, as LGBTQ+ workers earn 90 cents for every dollar their heterosexual colleagues earn.

To afford a down payment, LGBTQ+ respondents were more likely to work a second job (29.1 percent) than non-LGBTQ+ respondents (18.3 percent). They were also more likely to sell stock investments (18.5 percent vs. 13.8 percent), cryptocurrency investments (14.8 percent vs. 8.5 percent), and save directly from paychecks (46.6 percent vs. 36.5 percent) to pad their down payments.

Beyond finances, LGBTQ+ renters and homebuyers said state politics is a major factor in their housing decisions. Redfin said LGBTQ+ respondents were more likely than heterosexual respondents to say living in states with laws protecting sexual and gender equality, racial diversity, strong gun control laws and legal abortion were “a must.”

LGBTQ+ respondents (37.9 percent) were 56 percent more likely than non-LGBTQ respondents (16.3 percent) to say they’d only live in a place that has strong laws against gender or sexual orientation-based discrimination.

LGBTQ+ renters and buyers were three times as likely to say they’d only live somewhere with laws allowing discussion of LGBTQ topics in schools (33 percent vs. 10.4 percent), and more than 25 percent of LGBTQ+ respondents (25.9 percent) said they would only live in a place where gender-affirming care for children is fully legal, versus 11 percent of heterosexual respondents.

“At a time when LGBTQ+ rights are becoming increasingly restricted, it’s not surprising that many LGBTQ+ Americans only want to live in places with legal protections,” the report read. “Lawmakers in 37 states have introduced at least 142 bills to limit gender-affirming healthcare this year, and 21 states now ban abortion or restrict it earlier in pregnancy than the standard set by Roe v. Wade.”

“In April, Florida expanded its so-called “Don’t Say Gay” law, which bars lessons on gender identity and sexual orientation in the classroom,” it added.

Despite these challenges, LGBTQ+ renters still have a stronger desire to become homeowners — LGBTQ+ renters were 34 percent less likely (13.2 percent) than heterosexual renters (20.1 percent) to say they weren’t interested in owning a home.

Email Marian McPherson

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription