A PRACTITIONER’S SUMMARY GENTRIFICATION AND RESIDENTIAL MOBILITY IN PHILADELPHIA Lei Ding,* Jackelyn Hwang,** Eileen Divringi* October 2015 * Community Development Studies & Education Department, Federal Reserve Bank of Philadelphia. The authors thank Jeffrey Lin, Ingrid G. Ellen, Robert M. Hunt, Leonard Nakamura, Theresa Singleton, and participants of the 2015 Policy Summit in Pittsburgh for their helpful comments. Please direct questions and comments to Lei Ding at
[email protected]. The views expressed in this article are those of the authors and do not necessarily reflect the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. ** Princeton University and Research Consultant at the Federal Reserve Bank of Philadelphia 1 Gentrification and Residential Mobility in Philadelphia Federal Reserve Bank of Philadelphia 1 INTRODUCTION other words, when compared with the moving behav- ior of similar residents in nongentrifying neighbor- hoods, the mobility rates of more vulnerable residents Gentrification has provoked considerable debate and in gentrifying neighborhoods are not significantly controversy over how it affects neighborhoods and the higher. While this result initially may seem counterin- people residing in them. The term gentrification has of- tuitive given the increases in housing and living costs, ten been used to describe neighborhood changes that this is not surprising in other respects: Improvement are characterized by an influx of new residents of a high- in neighborhood conditions and services