Despite a history of economic and other forms of discrimination, LGBTQ+ people play a powerful role in the U.S. economy. This impact is only expected to grow in coming years.
A Growing Market: According to Gallup’s latest research, 9.3% of U.S. adults identified as lesbian, gay, bisexual, transgender or something other than heterosexual in 2024 – roughly equal to the population of Texas. This represents an increase of more than a percentage point versus 2023 estimates. Longer term, the figure has nearly doubled since 2020 and is up from 3.5% in 2012, when Gallup first measured it.
Purchasing Power: According to a 2022 study, the purchasing power of the U.S. LGBTQ+ community was estimated at $1.4 trillion annually – another number that continues to grow. This economic impact is especially important in the housing sector. LGBTQ+ individuals are more likely than non-LGBTQ+ individuals to be first-time home buyers (46% vs. 29%) and first-time home sellers (40% vs. 28%), according to research by the National Association of REALTORS®.
Impact of LGBTQ+-owned Businesses: According to a report by the National LGBT+ and Allied Chamber of Commerce, LGBTQ+-owned businesses contribute $1.7 trillion to the U.S. economy each year and have created at least 33,000 jobs. The organization estimates that there are 1.4 million LGBTQ+-owned businesses in the country.
Strong Support: A May 2025 GLAAD survey indicates that Americans are more supportive of the LGBTQ+ community now than ever:
Preparing for Success
The National Association of REALTORS® has recently analyzed the LGBTQ+ housing market. Check out this article to learn more and gain insights into working with this growing and economically significant segment of the U.S. population.
- 70% of Americans say knowing that a brand or store offers LGBTQ+ Pride collections or merchandise either has a positive impact or no impact on their purchasing decisions.
- 71% of Americans agree that brands and companies should be able to show support to the LGBTQ+ community during Pride month if they want to.
- 81% believe freedom means we all should be able to believe and behave as we choose, as long as it isn’t hurting anyone else.
This translates to opportunity for all businesses, including those owned by or employing REALTORS®. For LIBOR members, this means that fair housing is more than a legal responsibility, it is an economic imperative.