Denver is the fifth-fastest gentrifying city, according to Realtor.com. They found that almost a third of what can be gentrified in the city has already become gentrified.
That’s a bit more gentrified than the city itself has recognized, depending on how you look at it.
On a positive note for those that would like to see Denver preserve areas that might gentrify, Realtor.com’s methodology found that fewer tracts that could gentrify actually gentrified. When Governing did their study, they found that 42 percent of tracts had gentrified in Denver, higher than Realtor’s 32.8 percent.
What gives? Realtor.com used a lot of the same methodology to come to its fifth-fastest figure, namely the same Governing study.
Unlike Governing, Realtor.com used their own housing sale data, rather than Census data, and they also had a different scope — 2000 to 2015, instead of 2000 to 2010. They also incorporated increases in median income into their analysis of whether a tract gentrified.
Numbers aside, looking forward, Realtor.com noted that Globeville and Elyria-Swansea are “going through significant changes”:
“Three multibillion-dollar developments have lifted property values by 60 percent from 2013 to 2015, and residents saw their property taxes increase by as much as $600, according to Stephen Moore, policy director for FRESC, a nonprofit organization working with low-income communities.”