gentrification

  

Definition

The process of wealthier residents moving to an area, and the changes that occur due to the influx of wealth. As wealthier inhabitants move into an area that is already populated with lower-income residents, the neighborhood begins to change as well. Often this will spark an urban renewal process, which cleans up the town, but often leads to an increase in rent, taxes, and other items. Sometimes this change means that the previous residents can no longer afford to live in that neighborhood, which is why gentrification can sometimes be used in a negative context. However, many good changes also historically accompany gentrification, such as decreased crime rates and increased economic activity.

Use gentrification in a sentence

  • The Capitol Hill area of Washington, D.C. are undergoing a massive regentrification process with new facades, replacing the decades-old rowhouses with fancy new townhomes.

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  • The family restaurant that had been in the neighborhood for over forty years shut down, as the gentrification of the area pushed property taxes higher than they could afford

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  • The gentrification of the downtown area led to a safer and more aesthetically pleasing city center, but by increasing real estate values the gentrification of that area displaced many low income residents who could no longer afford to buy or rent homes there.

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