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.