By Andrea Leonhardt

February 28, 2018, 12:22 pm

 

Bedford-Stuyvesant’s/Crown Heights’s 11216 ZIP code has seen the biggest spike, as the median home value rose a dramatic 194 percent – more than in any other Brooklyn neighborhood.

According to a recent study published by RentCafe, five Brooklyn ZIP codes, including Bedford Stuyvesant/ Crown Heights, are among the 20 most gentrified areas in the United States. The real estate website analyzed data from the 2000 Census and the 2016 American Community Survey and looked at the changes that took place over a decade and a half in 11,000 US ZIP codes.

RentCafe’s report based its findings on three specific data points to determine the levels of gentrification: the median home value, the median household income and the share of residents that hold a bachelor’s or higher degree.

Among Brooklyn neighborhoods, parts of Bedford-Stuyvesant and Crown Heights have seen the biggest spike, as home values rose dramatically in the 11216 ZIP code, the study reveals. While the area ranked “just” tenth in the nation overall, the median home value increased by 194 percent – more than in any other Brooklyn neighborhood.

The 11237 and 11221 ZIP codes, which encompasses areas in Bushwick, ranked 14th and 17th. While the changes in median household income were less drastic than in other areas,  the study shows that the influx of highly educated residents  – 125 percents and 100 percent respectively – are an essential factor that accelerates the area’s gentrification.

The biggest changes since the turn of the millennium happened in Williamsburg’s 11211 Zip code, taking the seventh place on RentCafe’s list, followed by Greenpoint’s 11222 ZIP code which ranked ninth. Two other NYC neighborhoods made the list: East Harlem’s 10039 ZIP code was listed fifth, Harlem’s 10026 ZIP code, the area near Columbia University, was ranked 15th.

The nation’s inglorious crown in the ranking of most gentrified areas took the 90014 ZIP code, Downtown Los Angeles: its home value spiked at 707 percent, surpassed by the 857 percent increase of higher educated folks moving into the area.

To see the full report, go here.

 


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About The Author

Editorial Manager

Andrea is the managing editor of the Brooklyn Reader. She holds a master's degree in International Relations and furthered her education with graduate studies in Journalism prior to joining the BK Reader. A proud cat lady of one, Andrea seeks to fight the good fight with a pen and a piece of paper, with the humble hope to add something to the places she goes and the people she encounters - all around central Brooklyn and beyond.

Andrea is the managing editor of the Brooklyn Reader. She holds a master's degree in International Relations and furthered her education with graduate studies in Journalism prior to joining the BK Reader. A proud cat lady of one, Andrea seeks to fight the good fight with a pen and a piece of paper, with the humble hope to add something to the places she goes and the people she encounters - all around central Brooklyn and beyond.

5 Responses

  1. Peaceful

    What was the point of this article? We need to come up with solutions to this problem because it affects everyone with or without a college degree.

    Reply
    • Harmony

      Problem? Depilated and deteriorated properties being turned into additional housing, restaurants, shops, etc? More jobs being created, more cultures meshing with one another?

      Reply
      • Sugafree

        Don’t forget more homelessness for those who are priced out of their apartments. Mustn’t forget that.

  2. bklyngal

    A lot of homeowners in Bed Stuy are in the Air Bnb business…they got the councilman to fight for it…certainly they could rent to a displaced family…IJS.

    Reply
  3. Violet

    I sold my first house and moved to New York in 1977. When I decided to buy a house, I could only afford the poorest most dangerous neighborhood. 40 years later, I’m still hanging on to my Crown Heights North property and so glad I did. The architecture was always beautiful and back then I asked myself, how can a place be so beautiful but so dangerous? I would see someone gunned down and the cops would arrive the next day. Yes, a body will lay outside and you wouldn’t believe it but people would rob the corpse of sneakers and anything else of value. For someone who experienced daily crime and the loss of innocent children and friends due to violence, I welcome gentrification. I feel safer and don’t mind paying more taxes for that safety. Now can we get a few beautiful restaurants on Nostrand avenue! We need more places to spend our money locally and create more jobs for the unemployed!

    Reply

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