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A new data report from has determined that homebuyers who identify as LGBTQ and BIPOC (Black, Indigenous and people of color) are going into homeownership with greater housing costs burdens than White and non-LGBTQ individuals.

According to, LGBTQ+ and BIPOC buyers are more likely to put smaller down payments on a home, with nearly two-thirds (65%) putting down 20% or less of a home’s purchase price when buying compared to about half (53%) of White, non-LGBTQ+ buyers. Furthermore, LGBTQ and BIPOC buyers were also nearly 9% more likely to pay over a home’s asking price to get their offer accepted – 86% paid over asking, compared to 79% of White and non-LGBTQ individuals.

The combination of a smaller down payment and an above-asking home price generally equates to a higher interest rate and monthly mortgage payment. As a result, noted, LGBTQ and BIPOC buyers are likely to pay a larger share of their income toward housing than other buyers – which creates a greater obstacle to homeownership because a higher percentage of LGBTQ and BIPOC homebuyers were also more likely to fall into lower income groups than White and non-LGBTQ buyers. also found that LGBTQ+ and BIPOC buyers are 1.7 times more likely to have been denied mortgages two or more times.

“More Americans than ever before are stretched thin because of the growing housing cost burden, but our data shows that LGBTQ and BIPOC buyers are potentially spending even more of their income to own a home of their own, which can make it difficult to afford other essentials like food and transportation and creates even greater inequalities,” said Laura Eddy, vice president for research and insights. “With the rising costs of homeownership taking a greater toll on budgets, resources like down payment assistance can help reduce the overall financial burden of buying a home and make it more accessible to a wider range of individuals.”

“At, we believe the dream of homeownership should be achievable by all, but inequality and a history of discriminatory housing policies have made it harder for BIPOC and LGBTQ individuals to overcome housing hurdles, and since housing is a predominant way to build wealth, that’s led to a significant wealth gap across generations,” said Mickey Neuberger, chief marketing officer at “Reducing unfair housing cost burdens and giving greater access to communities who have been locked out of homeownership opportunities can help address that gap, and it’s why we’re joining forces with others in the industry and bringing new tools and resources to more individuals to help lift their financial strain.”