What are the fastest-gentrifying cities in the U.S.?

by Anna Sobrevinas24 Jan 2017
“Gentrification” is something of a dirty word these days – but it’s also an undeniable fact of life in many cities. A study by Realtor.com discovered the top 10 fastest-gentrifying cities in the country, using census data, home values, income and the education of residents.

“Whole communities can be displaced,” David Fiorenza, an urban economics professor at Villanova University told Realtor.com. “But people [also] can benefit from it, because home values and business values go up … and eventually, there will be more jobs and better schools.”

Here are the top 10 fastest-gentrifying cities in the country, according to Realtor.com:
  1. Charleston, S.C.

Median home price increase, 2000 to 2015: $152,100 to $270,000 (+77.5%)
  1. Asheville, N.C.

Median home price increase, 2000 to 2015: $125,000 to $235,000 (+88%)
  1. Washington, D.C.

Median home price increase, 2000 to 2015: $159,900 to $525,000 (+228.3%)
  1. Portland, Oregon

Median home price increase, 2000 to 2015: $148,000 to $340,000 (+129.7%)
  1. Denver, Colo.

Median home price increase, 2000 to 2015: $162,000 to $316,000 (+95.1%)
  1. Nashville, Tenn.
Median home price increase, 2000 to 2015: $118,400 to $205,000 (+73.1%)
  1. Sacramento, Calif.

Median home price increase, 2000 to 2015: $127,500 to $255,000 (+100%)
  1. Jersey City, N.J.

Median home price increase, 2000 to 2015: $142,000 to $380,000 (+167.6%)
 
  1. Long Beach, Calif.

Median home price increase from 2000 to 2015: $179,000 to $455,000 (up 154.2%)
 
  1. Austin, Texas

Median home price increase from 2000 to 2015: $152,600 to $299,300 (96.1%)



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Morning Briefing: Housing starts dip but consistent with builder confidence

 

COMMENTS

  • by Wary of it all | 1/24/2017 4:17:02 PM

    As long as it's done with a conscience. And not with the idea of pushing people away from their homes and areas they are comfortable living.

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