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Intro:
At Esusu, everyone deserves financial security and a place to call home, regardless of race, gender, or sexual orientation. Despite meaningful progress on LGBTQ+ rights in recent decades, many LGBTQ+ renters still face structural and social barriers to financial well-being and housing stability.
This piece highlights some of those barriers and how the housing and real estate community can help.
Securing Housing:
Barriers for LGBTQ+ renters can start as early as the home search. Research shows LGBTQ+ renters are more likely to pay application fees and to submit more applications before securing a rental home. With application fees often averaging around $30 per renter, these costs can add up quickly and place LGBTQ+ renters at a financial disadvantage.
Under current federal guidance, discrimination based on sexual orientation or gender identity is treated as sex-based discrimination under the Fair Housing Act, offering important protections to LGBTQ+ renters. Even so, LGBTQ+ people continue to report housing discrimination, and surveys indicate that roughly 1 in 5 transgender individuals has experienced some form of housing discrimination.
Several organizations work to advance LGBTQ+ housing rights and protections, including:
- The LGBTQ+ Real Estate Alliance;
- The National Association of Gay & Lesbian Real Estate Professionals (NAGLREP);
- SAGE and other LGBTQ+ housing and aging initiatives.
If you are an LGBTQ+ renter seeking support, or an ally looking to help, these organizations are strong places to start.
Accessing Credit:
There are many resources for LGBTQ+ people looking to improve their financial situation and strengthen their credit, but the need is real: studies have found LGBTQ+ individuals are about twice as likely to have a poor credit score as their cisgender, heterosexual peers.
Contributing factors can include:
- Job loss or income instability;
- Housing instability and frequent moves;
- Higher rates of family rejection among LGBTQ+ youth, which can limit access to traditional credit-building opportunities like having a parent co-sign a loan or add them as an authorized user.
Trans and non-binary people may face additional hurdles. Some have reported issues like:
- Credit histories “splitting” after a legal name change;
- Old names (deadnames) still appearing on credit files.
These problems can lead to incomplete or confusing credit histories that affect approval decisions and the rates offered to trans and non-binary borrowers.
Missed Rent and Evictions:
Financial hardship can affect anyone, but for people already facing discrimination based on gender identity or sexual orientation, the consequences of missed rent can be especially severe.
Renters in Esusu properties can apply for rent relief during a qualifying financial hardship. This 0% interest loan can help eligible U.S. renters in enrolled properties cover 1-3 months of rent, paid directly to their property manager, with a 12-month repayment plan to help them get back on their feet and avoid eviction.
Recent research has found that LGBTQ+ renters are:
- More likely to be behind on rent;
- More likely to be unsure how they will pay next month’s rent;
- At higher risk of eviction than many cisgender, heterosexual renters.
LGBTQ+ people are also more likely to live in poverty, and LGBTQ+ youth are over-represented among unhoused young people, with many estimates suggesting that nearly 40% of unhoused youth identify as LGBTQ+.
Organizations working to address LGBTQ+ homelessness and housing inequality include:
- Covenant House;
- National Coalition for the Homeless;
- True Colors United.
Connecting with these groups is a concrete way to learn more and support housing justice for LGBTQ+ communities.
Conclusion:
Structural and social barriers remain for many LGBTQ+ renters, but advocates and organizations across the country are making real progress toward equality in housing and economic opportunity.
Esusu is proud to help LGBTQ+ residents and their communities work toward financial security and housing stability through tools like rent reporting, rent relief, and curated resources in the Esusu Renters Marketplace.
To explore financial and rental resources that can help you save money and find assistance, visit the Renters Marketplace and follow Esusu on Instagram at @myesusu for the latest renter news and Pride-related updates.