Cities change. The cities of even a few decades ago have undergone radical shifts, be they from changing populations, changing housing, or changing economies.One of the words often used to describe cities is gentrification.

What does gentrification mean? Gentrification is often used as a negative descriptor, as a way of illustrating when long-term residents are often priced out of neighborhoods that have become more expensive as they’ve filled with newcomers, hip stores, and trendy restaurants. And some geographic areas gentrify more quickly than others, for a variety of reasons.

Take Denver, Colorado: Its median home price has increased almost 100 percent in 15 years. The outdoors are certainly an allure for many who move into the area, as is the booming tech industry and the recasting of urban areas into loft-filled, walkable spaces.

What other spots around the country are rapidly changing and why? The graphic below offers some illumination.

gentrification

READ MORE : Surprising Hidden Costs of Buying A Bigger House

Which Cities Are Gentrifying the Fastest? was last modified: November 9th, 2018 by Rent To Own Labs
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