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Many cities in the United States went through a process of gentrification in the years leading up to the crash of 2007-08. But four of them stand out: Boston (61 percent), Seattle (55 percent), New York (46 percent), and San Francisco (42 percent).
Daniel Hartley provides a list of the cities that experienced the highest levels of gentrification (which he defines as the percentage of neighborhoods located in the central city of a metropolitan area that go from being in the bottom half of the distribution of home prices in the metropolitan area to the top half) between 2000 and 2007.
It comes as no surprise that gentrifying tracts saw bigger increases in home values, rents, incomes, education levels, and owner occupancy rates than low-price tracts that did not gentrify.
What we don’t know, and what Hartley’s study sheds little light on, is what happens to residents who are pushed out of neighborhoods by the process of gentrification.
What we do know is that gentrification is the model of development that was widely adopted in America’s cities during the 2000s.