Gentrification is happening faster than our ability to track it via census data. What is rental data telling us now?
A study done by Governing magazine found a 20 percent gentrification rate for census tracts in the past decade in the largest 50 cities in the country, a greatly accelerated rate from the previous decade. One writer has noted that while this is an increase over past rates of gentrification, a 20 percent gentrification rate still means that 4 of 5 low-income neighborhoods are not gentrifying. While these are basic, straightforward conclusions to draw from the Governing study, there are a few huge, inter-related problems with the underlying study in being able to adequately describe our current round of gentrification.
The Governing study, and most quantitative studies of gentrification, use rising home prices as the primary indicator of gentrification. This is fairly standard practice and therefore not a problem unique to the Governing study. But the current round of gentrification is driven by the rental housing market, not the homeownership market.
FULL STORY: Gentrification Is More Widespread Than We Think
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