Re-measuring gentrification
Name
bunten et al (2023) UrbStd.pdf
Size
12.94 MB
Format
Adobe PDF
Checksum (MD5)
e2c2e87fef3f487b6b3b80ea6358ae62
Author(s)
bunten, devin michelle
Preis, Benjamin
Aron-Dine, Shifrah
Date Issued
May 26, 2023
Journal
Urban Studies
Publisher
SAGE Publications
Citation
bunten, devin michelle, Preis, Benjamin and Aron-Dine, Shifrah. 2023. "Re-measuring gentrification." Urban Studies.
Version
Author's final manuscript
Abstract
We develop an expectations-based measure of gentrification. Property values today incorporate market participants’ expectations of the neighbourhood’s future. We contrast this with present-oriented variables like demographics. To operationalise the signal implicit in property values, we contrast the percentile rank of a neighbourhood’s average house price to that of its average income, relative to its metropolitan area. We take as our signal of gentrification the rise of a neighbourhood’s house value percentile above its income percentile. We show that a gap between the house value and income percentiles predicts future income growth. We further validate our metric against existing approaches to identify gentrification, finding that it aligns meaningfully with qualitative analyses built on local insight. Compared to existing quantitative approaches, we obtain similar results but usually observe them in earlier years and with more parsimonious data. Our approach has several advantages: conceptual simplicity, communicative flexibility with graphical and map forms and availability for small geographies on an annual basis with minimal lag.
Subjects
Urban Studies
Environmental Science (miscellaneous)
MIT Department
Massachusetts Institute of Technology. Department of Urban Studies and Planning
Terms of Use
Creative Commons Attribution-Noncommercial-Share Alike
Persistent DSpace Link
DOI of Published Version
10.1177/00420980231173846
