Gentrification

Definition

Gentrification is the process by which lower-income neighborhoods undergo renovation and revitalization, leading to increased property values and the displacement of the original residents. This often results in a shift in neighborhood character and demographics, favoring more affluent residents.

Related terms

Urban Renewal:

The redevelopment of areas within cities to encourage new investment and improvements in housing, roads, and public spaces.

Displacement: The forced relocation of people from their homes, often due to economic pressures like rising rents or property development.

Socioeconomic Status:

A measure of an individual's or family's economic and social position relative to others based on income, education, and occupation