Can the names of black cultural icons save the neighborhood: Relating street names to property values and neighborhood racial composition change in Harlem, New York City

Abstract

Gentrification-related concerns are prevalent across much of the US. In many metropolitan areas, housing unaffordability is high, and changes in neighborhood character associated with dispossession and cultural removal of communities of color are not uncommon. These conditions contribute to the need for expanded understanding of space-claiming and place-guarding strategies relevant to race and socioeconomic factors. Answering this call, this study uses street names to quantitatively describe the ways that racialized values and sentiments get absorbed into the housing market and shape neighborhood demographic composition. Using a hedonic pricing model – looking at the gentrifying neighborhood of Harlem in NYC between 2000 and 2020 – this work finds that properties situated on streets named after Black cultural icons experience 13.8 % lower sale prices than otherwise comparable properties on non-Black named streets. This suggests that naming streets after Black cultural icons may help dampen upward pressure on housing costs, contributing to affordability. Specific to demographic change, however, findings reveal that areas surrounding streets named after Black icons do not experience higher shares of Black population retention over time than do other parts of the neighborhood. This work is relevant to advocates and activities, planners and policymakers, interested in advancing housing justice.