Federal Reserve Bank of Cleveland
Have all cities lost people due to COVID-19, or just a few high-cost ones?
A new study examines gentrification (measured by relative income) at the neighborhoods, revealing the unique case of Cincinnati, which increased wealth faster during the recession than it did during the preceding boom.
Cincinnati Business Courier
The prevailing wisdom is that as a neighborhood gentrifies, long-time, low income residents are forced to move out because of rising rents, i.e. displacement. Two studies from Columbia University and the Federal Reserve draw different conclusions.
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.