The “gayborhood premium:” A look at home prices in LGBTQ-centric areas

Living in LGBTQ enclaves is not cheap, according to a Zillow study

Los Angeles /
Jul.July 26, 2019 10:08 AM
The 2017 LA Pride march in West Hollywood and West Palm Springs (Credit: United Food and Commercial Workers)
The 2017 LA Pride march in West Hollywood and West Palm Springs (Credit: United Food and Commercial Workers)

Homes and condominiums in West Hollywood aren’t just expensive because they’re on the Westside.

Properties in areas considered LGBTQ-centric can be worth three times as much as comparable homes in neighboring areas, according to a Zillow study cited by the Los Angeles Times. The study looked at 36 such areas nationwide.

Homes in West Palm Springs carried the highest “gayborhood premium” in California — 233 percent compared to homes in nearby Riverside. Palm Springs has more same-sex couples per household than anywhere in the state.

Cleveland’s Riverside neighborhood has an even higher premium. Homes there were nearly three times as valuable as neighboring areas, the highest in the country. New York City’s “gayborhoods” on Manhattan’s west side carry a 116.9 percent premium.

Homes in West Hollywood, long a gay enclave and popular LGBTQ vacation destination, have a 32.9 percent premium over homes in broader L.A. County. West Hollywood is home to numerous multimillion-dollar houses. Spec builder Nile Niami is asking $55 million for his own home there.

In San Francisco’s Castro District, homes were 8.1 percent cheaper than the rest of the city in the 1970s. By 2000, they grew to be 40 percent higher than the citywide average.

Still, some sectors of the real estate industry haven’t caught up. An Iowa State University study of 30 million mortgages between 1990 and 2015 found same-sex couples were 73 percent more likely to be denied a mortgage than opposite-sex couples. [LAT] — Dennis Lynch


Related Articles

arrow_forward_ios
GPI Companies’ Alexander Akhtarzad  and Josh Flagg with a rendering of Nine Thousand One (GPI, Getty)
Nine Thousand One joins Westside’s upscale apartment market
Nine Thousand One joins Westside’s upscale apartment market
A.J. Khair's Demitri Samaha and renderings for 8240 Sunset Blvd (A.J. Khair, Getty)
A.J. Khair eyes West Hollywood for hotel-housing complex
A.J. Khair eyes West Hollywood for hotel-housing complex
Hudson Pacific Properties Victor Coleman and Art of Quixote studios (Hudson Pacific Properties)
Hudson Pacific Acquires Quixote Studios for $360M
Hudson Pacific Acquires Quixote Studios for $360M
The Wing's Fatima Koning and the Wing West Hollywood, 8550 Santa Monica Blvd (The Org, The Wing, Getty)
Co-working operator The Wing goes out of business
Co-working operator The Wing goes out of business
André Balazs with Chateau Marmont (Getty, Google Maps)
Chateau Marmont scrubs members-only plan, accepts union
Chateau Marmont scrubs members-only plan, accepts union
Cottonwood’s Mark Green and Silver Creek's Franck Ruimy with 8850 Sunset Blvd (8850 Sunset Blvd , LinkedIn, Stan Hope Capitol, Getty)
Reimagined Viper Room’s developer scores $60M loan
Reimagined Viper Room’s developer scores $60M loan
Townscape Partners' Tyler Siegel and John Irwin; 8899 Beverly Blvd. (Nils Timm, Getty)
Townscape Partners asks $50M for WeHo penthouse
Townscape Partners asks $50M for WeHo penthouse
The Pendry Residences in West Hollywood (Pendry Residences WeHo)
AECOM’s Pendry in WeHo scores year’s priciest condo sale
AECOM’s Pendry in WeHo scores year’s priciest condo sale
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...