gentrification in new york city · rents have gone up; not incomes . sources: acs, nyu furman...
TRANSCRIPT
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Gentrification in New York City: Price and Demographic Changes
2
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Housing prices have gone up in NYC
0
50
100
150
200
250
300
350
400
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
All Properties Single-Family Homes 2-4 Unit Buildings Condos 5+ Unit Buildings
Index of Housing Price Appreciation by Property Type
Sources: NYC DOF, NYU Furman Center
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Rents have gone up; not incomes
Sources: ACS, NYU Furman Center
Median Gross Rent
Median Renter Household
Income
96
98
100
102
104
106
108
110
112
114
116
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Index of Median Gross Rent and Median Renter Household Income in NYC
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Affordability is a growing problem
9.3%
22.9%
69.4%
89.4%
7.8% 15.8%
51.7%
82.9%
0%
20%
40%
60%
80%
100%
30% AMI 50% AMI 80% AMI 130% AMI
2000 2013
Sources: ACS, NYU Furman Center
Recently Available Appropriately-Sized Units Affordable to Households in NYC
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DIFFERENCES ACROSS COMMUNITY DISTRICTS
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Housing prices have gone up more dramatically in some neighborhoods
356.3%
138.7% 116.8%
33.6%
0%
50%
100%
150%
200%
250%
300%
350%
400% Morningside Hts.
Sources: NYC DOF, NYU Furman Center
Real Change in Housing Price Index by Community District, 2000-2014, New York City
New York City Bed-Stuy
Jamaica
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54.45%
35.71%
21.96%
7.74%
0.00%
10.00%
20.00%
30.00%
40.00%
50.00%
60.00%
Rents have gone up more dramatically in some neighborhoods
Sources: ACS, NYU Furman Center
Real Change in Gross Median Rent by Community District, 2000-2014, New York City
New York City
Bed-Stuy
Fort Greene/ Bkln. Hts.
Willowbrook
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FOCUS ON BEDFORD STUYVESANT
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Housing prices in Bed-Stuy have been more volatile than the city as a whole
Sources: NYC DOF, NYU Furman Center
Housing Price Index, Bedford Stuyvesant and New York City
0
50
100
150
200
250
300
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Bedford Stuyvesant New York City
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Rent has risen more rapidly
Sources: ACS, NYU Furman Center
Real Rent Growth, 2000-2013, Bedford Stuyvesant and New York City
35%
21%
0
0.05
0.1
0.15
0.2
0.25
0.3
0.35
0.4
Bedford Stuyvesant New York City
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Median income has increased
Sources: ACS, NYU Furman Center
Median household income, Bedford Stuyvesant and New York City
$33,521 $35,060 $37,294 $37,011
$55,554 $54,561 $54,061 $52,207
2000 2007 2010 2013
Bedford-Stuyvesant New York City
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The poverty rate has remained steady
Sources: ACS, NYU Furman Center
Poverty rate, Bedford Stuyvesant and New York City
36% 34% 32% 33%
21.2% 18.5% 20.1% 20.9%
2000 2007 2010 2013
Bedford-Stuyvesant New York City
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Education level has increased
Sources: ACS, NYU Furman Center
Percent of population with a bachelor’s degree or higher, Bedford Stuyvesant and New York City
17.2% 21.9% 24.1%
32.1% 33.4% 34.9%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
35.0%
40.0%
2007 2010 2013
Bedford Stuyvesant New York City
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The Black population has decreased, the White population has increased
Sources: ACS, NYU Furman Center
2% 10% 14%
20%
35% 35% 33% 33%
0%10%20%30%40%50%60%70%80%90%
100%
2000 2007 2010 2013
75% 70%
60% 58%
25% 24% 23% 23%
0%10%20%30%40%50%60%70%80%90%
100%
2000 2007 2010 2013
Percent of population Black, Bedford Stuyvesant and New York City
Percent of population White, Bedford Stuyvesant and New York City
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Which means racial diversity has increased
Sources: ACS, NYU Furman Center
Racial diversity index, Bedford Stuyvesant and New York City
0.40 0.48
0.58 0.59
0.74 0.73 0.74 0.74
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
2000 2007 2010 2013
Bedford Stuyvesant New York City
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