Latinos, being the largest ethnic group in the Koreatown, make up about 53 percent of the population, many of which are of Guatemalan descent. Asians consist of about 32 percent of population, most of which are of Korean descent. Anglo American and African American populations make up about seven and almost five percent of Koreatown's population. (Koreatown, maps.latimes).
Along with growth and ethnic diversity, there have been changes Koreatown's housing. Residents have noticed an increase in white and black populations in the region, and the incoming of "yuppies," or young urban professionals. Along with these newcomers, residents also have noticed the increase of property values (Dalipe, Interview). Economic and housing changes may have Koreatown experiencing what almost every major US city is experiencing: gentrification. Gentrification occurs when wealthy, white collar, young, and mostly Anglo populations without children move into an older, decaying neighborhood, resulting in the region's transformation and revitalization. This essay will argue that although Koreatown has had a history of crime and poverty, it is currently in the early stages of gentrification. Its economic restructuring has white-collar professionals choosing to live in the region to be closer to work, the region's cheap housing has wealthier people opting to move into the area, and an increase in wealthier populations created a site for gentrification, resulting in a mixed income population with a wide income disparity. Through interviews of residents and housing, population, and the use economic data, I will discuss how the springing up of businesses, the recent increase in property values, and the mixed income characteristic in Koreatown reveals a gentrification process in its early stages.
Economic restructuring in Koreatown brought attention to the region. Increases in administrative and professional jobs bring white-collar workers to an inner-city area (Macionis and Parillo, 332).
