March 21, 2018 at 5:30 AM
“Gentrification” is a loaded word. Some people see it as a takeover of hipsters and wealthier people in a once-poorer-but-proud neighborhood; others see it as a positive economic trend that can lift tax revenue and provide jobs for city residents.
Either way, RENTCafe.com recently measured home values, income and education levels within more than 11,000 Zip codes across the United States to find the ones that have changed the most since 2000.
Downtown Los Angeles’s 90014 tops the list of the 20 Zip codes where gentrification has occurred. Within this Zip code, home values rose by 707 percent from 2000 to 2016. Household incomes rose by 95 percent, and the share of residents with a bachelor’s degree rose by 857 percent.
Washington’s 20001 Zip code — which includes Shaw, LeDroit Park and parts of Bloomingdale, Mount Vernon Square and Penn Quarter — came in second overall and first for the highest income increase. Median household income rose from $37,000 to $97,000 between 2000 and 2016.
Houston’s 77003 Zip code comes in third for gentrification, followed by multiple Zip codes in Philadelphia, Manhattan, Brooklyn and Baltimore.
Twelve of the top 20 Zip codes with the most gentrification are in East Coast cities and five of them are in Brooklyn.
The average home value in 2016 across the top 20 most-gentrified Zip codes was $446,730, with an average increase of 224 percent since 2000.
To see the full report, click here.
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