The Most Gentrified Metro Market Is …

Feb 28, 2018

The impact of gentrification is most pronounced in coastal and Texas metro areas, according to a new study released by RentCafé.

The Downtown Los Angeles neighborhood with the 90014 ZIP Code recorded the most dramatic data shifts since 2000, with a 707 percent increase in home values, a 95 percent spike in household incomes and an astonishing 857 percent increase in residents with bachelor's degrees. Second place went to the Washington, D.C., neighborhood in the 20001 ZIP Code, with a 207 percent rise in home values, a 163 percent upswing in household income and a 212 percent increase in residents with bachelor's degrees.

However, the remainder of the top 10 metro areas experiencing extraordinary gentrification changes fell into limited geographical patterns: two markets were in Texas (third place Houston and sixth place Fort Worth), two were in Philadelphia (in fourth and eighth place) and the rest were divided between New York City’s pricey neighborhoods in Manhattan and Brooklyn.

And not everyone is sharing the good fortune of the gentrified neighborhoods. Despite being ranked first, the study acknowledged the majority of residents in the 90014 community lived under the poverty line with a 2016 median household income of $24,670.

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Phil Hall

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Feb 28, 2018

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