The term “gayborhood premium” might sound like the bonus round of an HGTV foray into game shows. In truth, it’s what homeowners reap when living in LGBTQ-centric areas, according to recent Zillow research.
And gayborhood residents can cash in big — up to 294% more value for their homes compared with those in surrounding metro areas, as shown in the analysis of 36 housing markets, released in May.
Residences in West Palm Springs boast a hefty 233% premium, compared with the average price of homes in the Riverside metro area, the Zillow study found. Palm Springs has the highest percentage of same-sex couples in California, according to an analysis of U.S. census data by the Williams Institute at the UCLA School of Law.
Guerneville and West Hollywood rank second and third, respectively, in numbers of same-sex couples per 1,000 households.
Read the full story at LATimes.com.