Multifamily Boom, High Home Prices Drive Surge of Renters Across U.S.
More people are renting particularly in expensive cities like NYC and LA.
HOUSTON—Gentrification is a topic of conversation lately, sparking strong reactions and heated debates in cities and communities across the nation. But which areas have been most affected by it since the turn of the millennium?
To answer this question, RentCafe reviewed Census data from 2000 and 2016 in 11,000 US ZIP codes to look at the changes that took place in a decade and a half. The gentrification coefficient that provided the final ranking is a simple average of the ZIP codes ranks in the three categories of median home value, median household income and the population that holds bachelors or higher degrees.
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More people are renting particularly in expensive cities like NYC and LA.
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