East Austin area named among top 10 fastest-gentrifying US neighborhoods


AUSTIN (AUSTIN BUSINESS JOURNAL) — Austin is near the top of another list for real estate growth — but not in the way most residents and policymakers would want.

The East Austin ZIP code of 78721 ranked No. 4 among the fastest-gentrifying neighborhoods in America’s major cities in an analysis by Realtor.com.

Amid Austin’s boom, private developments like upscale apartments and luxury condos have moved into lower-income areas, particularly east of I-35. Rising property values have led to higher taxes and increased costs of living, pricing out many local businesses and longtime residents.

Read the full story at Austin Business Journal.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Austin-Travis County

More Austin-Travis County News

Don't Miss