Email (excerpted), Ryan Robinson, city demographer, City of Austin, Oct. 21, 2013
... I will say that gentrification is way more complex than simple rapid racial change, it really has far more to do with the displacement of lower income households by higher income households, regardless of race, resulting in a fundamental change in the character of the neighborhood. As one simple example, neighborhoods in Chicago are currently gentrifying and affluent African American households are the ones doing the displacing.
But for sure, without question, 78702, or at least certain parts of 78702, are indeed gentrifying, at least in my professional opinion they are. The hard parts to measure are the velocity and spatial extent of gentrification. And the term "displacement" can be manifested in many ways, and is also a difficult to measure phenomenon.