The Urban Land Institute and PricewaterhouseCoopers (PwC) recently co-published the 35th annual edition of Emerging Trends in Real Estate. This publication provides an outlook on annual market trends that is widely read by real estate professionals. The analysis for 2014 includes information about the top markets in the United States thus provoking the question, “Of these top markets, which ones are LGBT-friendly?” The answer, not that surprising, is that all of the top markets (especially with revitalized downtowns) were also very LGBT-friendly including two of the most gay-friendly metropolises in the world – San Francisco and New York.
The number one top market on this publication’s list is San Francisco, which is top ranked for a second year in a row. San Francisco earned this position because it is rich with potential for home building, an easy place to make money selling and buying real estate. It id also a city that is open to new development. San Francisco is a city where there is a lot of capital available for new projects and there is little “financial prejudice” against gays. In 2014, this number one LGBT-friendly place in America is predicted to thrive as well as it did in 2013, partially because the economy is supposed to experience an increased employment rat of 2% this year and an increase of individual personal income of 5.5%. This helps residents offset the high cost of living downtown. San Francisco is also unusual because it does not have a burnt-out city core. (Further reading: additional info about Black Desert House)
Thanks partly to a caring and wealthy LGBT influence, the downtown areas of San Francisco or revitalized to the extent that 36% of new residents to the city are moving into the metro downtown. Emerging Real Estate Trends recommends San Francisco as being the number one “solid buy” for investors in the United States with great neighborhoods, beautiful hotels and gorgeous parks.
The second top market on the list is Houston. Houston has a huge arts community that is very friendly to LGBT individuals and also young people. Houston is particular suited for investment in new buildings. It is also described as a city with long-term above average economic growth with expansion predicted in the health, energy and distribution industries.
San Jose, California was third on the list with a profile for growth very similar to its neighboring big city of San Francisco. Jobs in the area of technology are likely to expand in this well-known center for technical innovation.
New York was fourth on the list and rates high when it comes to business and professional employment growth surpassing many other large metro areas in terms of having a highly productive, well-paid and also well-educated workforce. Of course, New York is well known for being an LGBT friendly haven. Emerging Real Estate Trends predicts that in 2014 that the apartment and hotel markets will be very hot in The Big Apple.
Dallas/Fort Worth, Seattle, Austin, Miami and Boston were next on the list in Emerging Real Estate’s ranked order of top markets in the United States and it is also interesting to note that all of these cities, but especially Seattle, Austin and Miami also rank as excellent places for gays and lesbians to settle down in as well.