For many members of the LGBT community, owning a home is a great way to get out of the cycle of paying rent every month and instead to put that money towards investing in real estate. Another common reason for members of the LGBT community buy a home is that one now has full control to decorate and modify one’s space, as one does not need to consult with a landlord for permission to make modifications as a homeowner. Sadly, a high share of LGBT potential home buyers in the United States are concerned about how welcoming the community and the neighborhood will be when purchasing a home, or if the neighborhood would react badly if they started a family.
Buying a home for the first time is a huge step in anyone’s life, no matter one’s sexual orientation. In the United States between 2015 and 2018, nearly 60 percent of bisexual homebuyers bought their first home, compared to 36 percent of gays and lesbians, and 32 percent of heterosexuals. The median price paid by home buyers varied considerably by sexual orientation during that time period. The median home price paid by heterosexuals in the United States was 235 thousand U.S. dollars, while bisexual home buyers paid around 179 thousand U.S. dollars for their home.
Among home sellers in the United States between 2015 and 2018, 50 percent of bisexuals sold their home for the first time during that time period, a higher share than any other sexual orientation. For gay and lesbian home sellers, some 68 percent sold a detached single-family home, while 11 percent sold a townhouse/row house between 2015 and 2018.