House prices in ‘gayborhoods’ have soared 20% in three years
By Quentin Fottrell
June 11, 2015
Gay Americans can take pride in these house prices.
Over the last three years, home prices in neighborhoods popular with cohabiting, married or partnered gay men have grown by an average of 23%, according to research by the real-estate website Trulia. Similarly, prices have risen in neighborhoods that are popular with cohabiting, married or partnered gay women — by an average of 18%. “In honor of Gay Pride this year [the last weekend in June in many U.S. cities], we wanted to revisit these neighborhoods and find out what’s changed,” says Trulia housing economist Ralph McLaughlin.
Among the areas characterized as male “gayborhoods,” prices rocketed 65% to $260 per square foot in the 92262 ZIP Code of Palm Springs, Calif., between 2012 and 2015 and rose 47% to $768 in the 94131 ZIP Code, which comprises the Noe Valley, Glen Park and Diamond Heights neighborhoods of San Francisco. One theory: “If you are not raising children, you have two male incomes and have more money to devote to improve their home environment,” says Gary Gates, a demographer and research director of the Williams Institute for Sexual Orientation Law and Public Policy at the University of California.
For the full article, click here.