The often-discussed, but rarely studied, question of whether an influx of gay neighbors can increase home values was tackled by economists at the Seattle-based Zillow in their book “The New Rules of Real Estate.”
In a chapter titled the “Gayborhood Phenomenon” Zillow Chief Economist Stan Humphries and CEO Spencer Rascoff look at data on migrations of the LGBT community to specific neighborhoods and how those areas were transformed mostly for the better.
“Many of us have sensed, for years, that the LGBT communities throughout the country have driven gentrification and increased local property values,” the authors write. “Our analysis shows that, over the past forty years, home prices in historically gay neighborhoods have steadily outperformed average prices for the metros in which they’re located.”
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