Why Home Prices Increase Faster Where There Are More Same-Sex Couples

Hillcrest Gayborhood - San DiegoFor many years, a perplexing phenomenon has made its way into real estate markets across the country: where there is a high concentration of same-sex couples, real estate tends to be more expensive and appreciate in value faster.

The trend was made famous by a 2001 study by Richard Florida and Gary Gates, which found that there was a higher concentration of those identifying as gay in cities that were also vibrant centers of technological progress and innovation. Their theory was that places that were open-minded would also be economically vibrant.

But even as same-sex marriage and gay culture is increasingly accepted across the United States, this trend has continued, according to a new analysis from Ralph McLaughlin, a housing economist at the real estate website Trulia. McLaughlin studied the prices and price appreciation of homes, from 2012 through 2015, in neighborhoods with the highest concentration of married same-sex couples, both among male and female pairs. He found home prices increased on average 23% in zip codes with high concentrations of male same-sex couples and 18% for neighborhoods with high concentration female same-sex couples.

At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas.

Authored By Chris Matthews – See the Full Story at Time

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