What's Behind the Surge in Neighborhood Revitalization? A Zip Code Perspective

The real estate market is experiencing a significant surge in neighborhood revitalization, with many areas undergoing rapid gentrification. But what's driving this trend? Let's dive into the numbers and explore the data behind this phenomenon.

Demographic Data

In 16000US1522700, HI, the population is 32749, with a diverse mix of racial and ethnic groups. The white population accounts for 6318 (19.3%), followed by Asian population with 10739 (32.8%), Hispanic Latino with 32749 (100%), and other racial and ethnic groups.

Similarly, in 16000US5054325, VT, the population is 645, with a predominantly white population of 629 (97.6%) and a small Hispanic Latino population of 645 (100%).

These demographic trends are crucial in understanding the neighborhood revitalization process. As the data shows, areas with diverse populations often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

Housing Data

Looking at the housing data, we see that 16000US1522700, HI, has a total of 11119 housing units, with 9722 occupied and 1397 vacant. The vacancy rate is 12.56%, with 542 units available for rent and 13 units for sale.

In contrast, 16000US5054325, VT, has a total of 641 housing units, with 344 occupied and 297 vacant. The vacancy rate is 46.33%, with 0 units available for rent and 0 units for sale.

These numbers indicate that 16000US1522700, HI, has a more balanced housing market, with a lower vacancy rate and a mix of occupied and vacant units. In contrast, 16000US5054325, VT, has a higher vacancy rate and a larger proportion of vacant units.

Income Data

The income data shows that 16000US1522700, HI, has a median household income of $54047, with a significant number of households earning between $30000 and $75000. In contrast, 16000US5054325, VT, has a median household income of $46327, with a smaller number of households earning between $30000 and $75000.

These income trends are essential in understanding the neighborhood revitalization process. As the data shows, areas with higher median household incomes often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

Commuting Data

The commuting data shows that 16000US1522700, HI, has a public transportation percentage of 23.1%, a bicycle percentage of 0.5%, and a work-from-home percentage of 48.1%. In contrast, 16000US5054325, VT, has a public transportation percentage of 40.4%, a bicycle percentage of 2.2%, and a work-from-home percentage of 53.0%.

These commuting trends are crucial in understanding the neighborhood revitalization process. As the data shows, areas with a higher proportion of workers commuting via public transportation often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

Neighborhood Revitalization

Based on the data, it's clear that neighborhood revitalization is a complex process driven by a variety of factors, including demographic, housing, income, and commuting trends. As the data shows, areas with diverse populations, balanced housing markets, higher median household incomes, and a higher proportion of workers commuting via public transportation often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

For a city like 16000US1522700, HI, the median sale price is $300,000 with homes typically staying on the market for 30 days. When comparing to 16000US5054325, VT, which has a median price of $400,000, we can see a difference of $100,000.

In 16000US2151006, KY, the median home value is $169300, with homes staying on the market for 44 days. This is a significant difference from the median home value of $608400 in 16000US1522700, HI, and $308800 in 16000US5054325, VT.

The neighborhood velocity of these areas is a key factor in understanding the surge in neighborhood revitalization. As the data shows, areas with rapid price appreciation often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

However, not all areas are experiencing a surge in gentrification. In 16000US3608169, NY, the median home value is $421600, with homes staying on the market for 45 days. This is a significant difference from the median home value of $608400 in 16000US1522700, HI, and $308800 in 16000US5054325, VT.

The price trajectory of these areas is a key factor in understanding the surge in neighborhood revitalization. As the data shows, areas with a steady increase in median home values often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

Additionally, the short-term rental market is also a key factor in understanding the surge in neighborhood revitalization. As the data shows, areas with a high demand for short-term rentals often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

Overall, the surge in neighborhood revitalization is a complex phenomenon driven by a variety of factors, including demographic, housing, income, commuting, and price trends. As the data shows, areas with diverse populations, balanced housing markets, higher median household incomes, and a higher proportion of workers commuting via public transportation often experience a surge in gentrification, leading to increased property values and a shift in neighborhood dynamics.

In conclusion, understanding the data behind neighborhood revitalization is crucial in making informed decisions about real estate investments. By analyzing the demographic, housing, income, commuting, and price trends, investors can identify areas with high potential for gentrification and make informed decisions about their investments.

For more information on neighborhood revitalization and real estate trends, be sure to check out our previous article on price correction watch and vacation rental hotspots.