One ZIP Code In Austin Makes The List For Most Gentrified
One ZIP code in East Austin made the list of the Top 20 gentrified areas in the country, based on median home value, family income and education levels.
The 78702 ZIP code saw a 212% median home value hike and a 47% increase in median family income in the new millennium, according to new numbers out of RentCafé. This area of Austin is bounded by Interstate 35 on the west, Martin Luther King Boulevard on the north, Airport Boulevard on the east and the shore of Lady Bird Lake on the south.
Zillow, which pegs the average price of a home in the area at $379,800, has labeled the area as "hot." The area also has added a number of new luxury apartment complexes: Alexan E6, 7East, Platform and Eastside Station.
That trend will likely continue with the recent opening of the Oracle campus and the rumored Project Catalyst, which is just to the south in 78741.
Other Texas ZIP codes that made the list include 77003 and 77007 in Houston and 76102 in Fort Worth. The most gentrified ZIP code is 90014 in downtown Los Angeles, where median home values have increased 707%.
