Which U.S. City Gentrified the Most Before the Recession?

A new report from the Federal Reserve Bank of Cleveland quantifies the rate at which America's 55 largest cities gentrified between 2000-2007 based on neighborhood home values. The results may surprise you.
November 9, 2013, 7am PST | Jonathan Nettler | @nettsj
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"Daniel Hartley, a research economist at the Federal Reserve Bank of Cleveland, explored the spread of gentrification in America’s 55 largest cities from 2000 to 2007 by analyzing which census tracts were primed for gentrification (those with below median home value) and how the housing prices, rents and income levels changed in those tracts over the seven year period," writes Bill Bradley. 

"Boston led the way with 26 percent. Washington, D.C., was hot on its heels with 19 percent and New York City just behind at 18 percent," notes Bradley. "So, East Coast cities were at the forefront of all of this. For once, statistical analysis dovetails with arguments generally had in dive bars. (Here’s an unexpected data point: Tampa had 18 percent of its city gentrified, the same as New York. Lena Dunham is cackling somewhere.)"

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Published on Friday, November 8, 2013 in Next City
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