East Side San Antonio Among the Top 10 Neighborhoods Undergoing the Fastest Gentrification
In a recent report published by Realtor.com, San Antonio’s East Side neighborhood ranked No. 10 among the top 10 fastest-gentrifying neighborhoods in the country.1 Located in the city’s 78202 zip code and also known as the Eastside Promise Neighborhood, East Side is a residential and industrial area just east of downtown San Antonio.
East Side, San Antonio Gentrification Statistics
- Median list price: $220,000
- 5-year median sale price change: +78.5%
- 5-year median household income change: +8.8%
- 5-year change in the share with bachelor's or higher degree: +77.5%
What Does a Gentrified East Side, San Antonio Look Like?
This previously low-income community is seeing a rise in private development with developers flipping houses and realtors selling more East Side homes. All this activity has resulted in a quick increase in the area’s household incomes and home values as well as a decrease in crime rates according to community members.
“Houses are going up. It turned out to be real nice, real subtle. But, it’s kinda scary cause you think people are just going to get shoved out of the neighborhood they grew up in.” – Carlos Cisneros, 10-year resident of East Side2
What is Gentrification?
The sentiment above is a common one among long-time residents in neighborhoods undergoing the process of gentrification. When it comes to real estate and urban planning, gentrification is a touchy subject.
Gentrification is the process of redeveloping old or vacant homes in conveniently located low-income neighborhoods to attract young professionals looking for reasonable housing prices and short commutes. Developers who target these historically overlooked and typically conveniently located (near downtown areas) neighborhoods are chasing high returns on investments.
The Ups and Downs of Gentrification in San Antonio
The benefits of gentrification don’t always extend to the long-time residents and business owners who have lived in the neighborhood for many years. Higher property values lead to higher taxes and sky-high rents.
Many long-term residents, often predominately people of color, are priced out of their homes and neighborhoods. When it comes to gentrification in San Antonio, it is usually the Hispanic and African American communities that get the shorter end of the deal.
Still, gentrification often results in a rush of investment to the area with higher income and younger residents moving in. This type of urban renewal often brings lower crime rates and an overall rejuvenation of a neighborhood. Gentrifying neighborhoods provide great investment opportunities for home buyers and those looking to move to San Antonio.
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- Lance Lambert, Realtor.com – America's 10 Fastest-Gentrifying Neighborhoods
- David Caltabiano, KABB Fox News 29 San Antonio – San Antonio neighborhood makes top ten in gentrification study