Gentrification describes urban renewal that leads to the displacement of the occupying demographic. It is commonly associated with rising property values in previously low-income urban areas, which may force current residents to move away.

The term “gentrification” is applied fairly liberally in contemporary American geographical language. It primarily refers to the process by which an urban or suburban neighborhood transitions from housing people of mostly low-income status to housing middle class families. In some expressions it can have racist connotations.

The term “gentrification” is used to describe the process by which affluent, middle-class families return to inner city neighborhoods from the suburbs. Although generally considered a positive trend because it contributes to urban revitalization, it has some negative consequences. One of these is that lower-income families can no longer afford the rent or cost of living in the neighborhood and are forced to relocate.

When gentrification is occurring, the pattern generally observed is an increase in ownership of homes and a decrease in renters. Since the low-income population moves out and a higher-income population moves in, these people who make more money can afford to actually buy their homes instead of renting.

All of the statements above would be supported by critics of gentrification, except the statement about historic preservation. When gentrification happens, an area that was previously deteriorated gets renovated, and any historical locations within that area get preserved.