The
process of wealthier
residents moving to an area, and the
changes that occur
due to the influx of
wealth. As wealthier inhabitants move into an area that is already populated with lower-income residents, the
neighborhood begins to
change as well. Often this will spark an
urban renewal process, which
cleans up the town, but often
leads to an increase in
rent, taxes, and other
items. Sometimes this change
means that the previous residents can no longer afford to live in that neighborhood, which is why gentrification can sometimes be used in a negative
context. However, many good changes also historically accompany gentrification, such as decreased
crime rates and increased
economic activity.
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