Jackelyn Hwang
Princeton University

Jeffrey Lin
Federal Reserve Bank of Philadelphia

The views expressed here are those of the authors and do not necessarily represent the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System.

Since 2000, increased gentrification in an expanding section of cities and neighborhoods has renewed interest from policymakers, researchers, and the public in the causes of gentrification. The identification of causal factors can help inform analyses of welfare, policy responses, and forecasts of future neighborhood change. We highlight some features of recent gentrification that popular understandings often do not emphasize, and we review progress on identifying some causal factors. A complete account of the relative contribution of many factors, however, is still elusive. We suggest questions and opportunities for future research.