(New York, NY) — The LGBTQ community and the real estate industry go hand in hand. In fact, together they hold the key to significant advancement for the NYC real estate market.
Why? Let’s talk numbers…
With $940 billion annual buying power and the $1.7 trillion in economic input made by the community, it’s no wonder they’re a major contributor to the market.
According to GLAAD’s third annual Acceleration Acceptance report, 20 percent of respondents, ages 18-34, identified as part of the LGBTQ community.
So, what does this have to do with real estate?
High concentrations of the LGBTQ community can be seen across some of the most expensive neighborhoods in NYC.
Starting with Greenwich Village, which holds historical and cultural significance to the LGBTQ community while also dishing out expensive price tags.
Not only are Manhattan, Chelsea, and Hell’s Kitchen popular locations for the LGBTQ community they also hold the greatest concentrations of LGBTQ owned businesses.
Brooklyn neighborhoods such as Park Slope, Windsor Terrace, Bushwick, East Williamsburg, and Bed-Stuy are also popular amongst the LGBTQ community.
And, with real estate currently on the rise in all of these neighborhoods, it’s clear that a successful market is highly dependent on the community.
Did you know…
June is not only Pride Month for the LGBTQ community but it’s also National Homeownership Month!
The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) is gaining widespread popularity in the real estate industry and will be holding their fifth annual conference this October. Amongst the speakers at this event will be Brad Inman, Realogy Franchise Group CEO John Peyton, HSF Affiliates CEO Gino Blefari, Better Homes and Gardens Real Estate CEO Sherry Chris, and Engel and Vӧlkers North America CEO Anthony Hitt.
The conference will cover the best ways to reach the LGBTQ community and their increasingly positive impact on the industry.