
Urbanist Richard Florida has spoken a lot about a “great inversion.” This is about poverty moving to the suburbs and the core of cities becoming a kind of “gated suburb.” (i.e. wealthy)
In response to this narrative, City Observatory recently published a post where they call this a new mythology. Joe Cortright argues that it is simply an exaggeration that sounds good in media headlines. And indeed, if you look at some accounts of poverty, the swings haven’t been that dramatic.
However, if you dig into this study by Luke Juday at the University of Virginia (cited in the City Observatory article), there have been some interesting changes.
Below is a chart that shows the percentage of adults (over 25) with a bachelor’s degree (or higher) sorted by distance from the city center. This particular chart is a composite of 7 northeastern (US) cities. The brown line is 2012 and the orange line is 1990.

As you can see, there has been a huge spike in educated people living in city centers – at least in the northeast.
Here is that same chart for Atlanta:

New York:

In the case of New York, it looks like the entire city just became more educated.
Miami:

Educational attainment is often the single biggest determinant of income. So there is something to be said about highly educated people concentrating themselves in city centers. We may not want to call it an inversion of great proportions, but it’s a meaningful shift.
What does the term “inner city" mean to you?
It’s a loaded term. But probably more so for North Americans than Europeans. For a long time, calling a neighbourhood inner city, was simply a nice way of saying poor. They were the neighbourhoods that people of means left behind when they fled to the suburbs with their cars.
But in today’s world it’s a stale term. So I think it’s about time that we officially retire it from our lexicon. All across North America inner city neighbourhoods - with their historic housing stocks and walkable main streets - have become some of the most desirable places to live.
Author Alan Ehrenhalt calls this The Great Inversion (title of his book):
"What we are seeing is a reversal in which the words “inner city,” which a generation ago connoted poverty and slums, [are going to mean] the home of wealthier people and people who have a choice about where they live, and the suburbs are going to be the home of immigrants and poorer people. And Census figures show that that’s taking place."