L.A. Submarkets Worst in US for Gentrification

Los Angeles

Los Angeles submarkets are among the most impacted by extreme gentrification in the country, according to new research from Yardi’s Rent Café. The research company surveyed 11,000 zip codes across the US, finding that Los Angeles’ 90014 has been most affected by gentrification trends. The Downtown submarket has seen a 707% increase in property values and a 95% increase in average household income; however, a majority of residents in the submarket live below the poverty line. The neighboring 90013 also made the list as the 12^th most impacted zip code with a 133% increase in property values and a 77% increase in household income. Like 90014, the submarket also has a median household income that falls below the poverty line. The list of 20 zip codes included only three West Coast markets, two of which are in Los Angeles. We sat down with Balazs Szekely with Yardi Rent Café for an exclusive interview about the gentrification in Los Angeles and how it is impacting the market.

GlobeSt.com: What does it say about Los Angeles that the city has two cases of extreme gentrification on your list, and two of the three West Coast zip codes?