East Austin ZIP Code Among Nation's Most Gentrified

EAST AUSTIN, TX — An East Austin ZIP code has made the list of most gentrified in the nation, according to a new analysis.

The issue of gentrification is a polarizing and divisive one, pitting those championing new commercial development with those lamenting the trend's more corrosive effects on established neighborhood and the displacement of resident amid soaring property values.

But which areas have been most affected by it? Researchers at RENTCafe set out to answer that question, scouring data from across the country to achieve its list of most gentrified ZIP codes. Coming in as the nation's 13th most gentrified is the ZIP code 78702, with a 212 percent median home value spike and a 47 percent increase in the median household income over the same period.

Related story: Study Shows Corrosive Effects Of Gentrification In East Austin

Those living in East Austin since the gentrification wave began over the last decade or so are painfully aware of their changing landscape. Once a largely working-class enclave populated largely by Hispanic and black residents, the area is now one of the trendiest and most sought-after area for an incoming influx of new residents comprising a great number of young workers.

The upshot: Many longtime East Austinresidents have been displaced from their longtime homes, no longer able to afford increased property taxes fueled by new nearby commercial development.

What might surprise some is the high placement of the East Austin ZIP code on the most-gentrified list.

Among the study's other key findings:

• More than half of the top 20 fastest-gentrifying ZIP codes since the turn of the millennium are on the East Coast, four in Texas, three on the West Coast, and one in the Midwest.

• 90014 in Los Angeles takes the (gentrified) cake with a staggering 707% increase in median home value and a 95% change in median household income from 2000 to 2016, followed by Washington DC’s 20001 ZIP code.

• Houston grabs 3rd place with 77003 and a striking 284% boost in home value, as well as a 71% increase in median household income. And it’s not the only area in Bayou City on our list, 77007 also makes an appearance at No.19, posting a 107% home value growth and a 114% spike in household income, the 2nd biggest income increase and the only ZIP to boast a median household income above $100K in our top 20.

• Fort Worth’s 76102 takes the 6th spot, while seeing the 4th highest median home value jump (323%) and the 3rd biggest median household income growth (103%) in our ranking.

To see the full top 20 list and a ranking of ZIP codes experiencing the most significant changes in home value, income and education level separately, check out the full study by clicking here.

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