Gentrification

Gentrification is a process where increased investment in a neighborhood drives up property values and rents, displacing lower-income residents and increasing prices so that lower income residents are unable to afford a lifestyle there. In public discourse, it has been used to describe a wide array of phenomena, sometimes in a pejorative connotation.

Gentrification is a common and controversial topic in urban politics and planning. Gentrification often increases the economic value of a neighborhood, but can be controversial due to changing demographic composition and potential displacement of incumbent residents. Gentrification is more likely when there is an undersupply of housing and rising home values in a metropolitan area.

The gentrification process is typically the result of increasing attraction to an area by people with higher incomes spilling over from neighboring cities, towns, or neighborhoods. Further steps are increased investments in a community and the related infrastructure by real estate development businesses, local government, or community activists and resulting economic development, increased attraction of business, and lower crime rates.