Policy & Industry
LGBTQ+ Renters Face More Challenges, Including Higher Up-Front Costs
LGBTQ+ renters comprise about one in eight of all renters and one in five of those that moved recently, according to new analyses of the 2022 Consumer Housing Trends Report (CHTR). These LGBTQ+ renters face disproportionate hurdles to finding housing, like higher costs in areas that protect them from housing discrimination and a higher frequency and likelihood of paying upfront costs like application fees and security deposits.
June is Pride Month, with a goal of raising awareness and increasing efforts to achieve equal opportunities for LGBTQ+ Americans. This month and every month, Zillow Research is committed to shining a light on housing market challenges and opportunities that disproportionately affect LGBTQ+ home buyers, sellers and renters.
Renters of Color Pay Higher Security Deposits, More Application Fees
Renters of color typically submit more applications — and pay more in application fees — before they secure a place to live than white renters do. Renters of color also typically pay a higher security deposit when they move in
Black Mortgage Applicants Denied 84% More Often than White Borrowers
Black applicants are denied a mortgage at a rate 84% higher than white applicants, an increase of 10 percentage points since 2019.
Where the Rent Burden is Most Unequal Across Racial Communities
The typical black and Latinx renting households are considered housing cost burdened; typical white and Asian renter households are not.
Housing Market Expected to Stay Stable as COVID-era Protections End
Only a small share of inventory is expected to come from homeowners foreclosed upon after the expiration of key federal protections.
How the Latinx-White Wealth Gap has Shrunk — and Why There’s Still So Much Farther to Go
The typical Latinx household currently has less than half (43.7%) of the wealth of a typical non-Hispanic white household, up from 28.4% in 2016.
After Supreme Court Ruling, More Than 3 Million Americans Are Still At-Risk of Eviction
Some 3 million Americans are at risk of eviction, and Zillow estimates there will be about 485,499 eviction filings in the next two months.
Forbearance Exits Will Likely Add to Inventory Starting in August
A significant share of homeowners exiting forbearance programs in coming months will likely end up listing their home for sale.
