One ZIP Code In Austin Makes The List For Most Gentrified

Photo credit: Bisnow/Kimberly Reeves
Alexan E6 On East Sixth Street

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%.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Austin - San Antonio Newsletters
Related Stories

Ryan Cos. Secures Permit For Austin's Sixth Street Redevelopment

Texas Developers Call Collaboration Key To Advancing Master-Planned Communities

Ireland's Living Sector Sales On Course To Hit €1B This Year

2 Longtime Leaders Of Housing Nonprofit Leave To Launch New Firms

Developers Build More Bedrooms As 99-Unit Projects Dominate

Redevco Provides €57M Green Loan For Dublin Resi Scheme

Janeese Lewis George Wants To Stabilize Rent. The Question Is How

Greystar Reveals Plans For 20,000-Home Garden-Style BTR Push

MEAG Expands Dublin Residential With Fourth Irish Acquisition In 6 Months

Federal Housing Bill Becomes Law Without Trump's Signature

U.S. Government Closes $30M Property Deal Tied To New San Antonio Spurs Arena

Tesla, Toyota Tap Central Texas For Major Industrial Expansions