The Real Deal New York

VIDEO: The top 5 most gentrified neighborhoods in NYC

No prizes for guessing no. 1...

May 20, 2016 05:49PM
By Alistair Gardiner

NYU Furman Center recently released a report that used rental data from 1990 to 2014 to determine which neighborhoods have gentrified most drastically. The report defines “gentrification” as rapid rent growth in low-income neighborhoods. It found that the median rent increase citywide since 1990 was 22.1 percent; the neighborhoods classified as gentrifying are those that were low-income in 1990, but saw the average rate of rent increase more than the citywide median.

The most gentrified neighborhood — can you guess it? — saw a whopping 78 percent jump in average rent over 24 years.

For the full run-down and renderings of the upcoming developments in each neighborhood, watch the above video.

For more videos, visit The Real Deal’s YouTube page.

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