Gentrification has become a subject that has stimulated much heated debate. Some feel it is a trademark of capitalism to revitalize, and beautify, areas that were formerly economically depressed. Others feel that it is where the poorer working class population is displaced by the wealthy.
Defined by the Brookings Institute as:
“The process by which higher income residents displace lower income households of a particular neighborhood.”
This is a phenomenon that is happening all over the Unites States, and even in Raleigh NC.
Almost all Raleigh residents have heard of the area referred to as “ITB”, or inside the belt-line. What was once a high crime area, with boarded up properties, is gradually being replaced with fully renovated $300,000+ houses.
Here are the top 10 gentrifying cities in the United States, its interesting to see a North Carolina city among the top 3!
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Infographic brought to you by Rent To Own Labs