New York City’s remarkable population growth over recent decades has heightened concerns about gentrification and displacement. In this paper, SIAP uses census data drawn from the annual American Community Survey (ACS) to identify patterns of geographic mobility common in New York City Public Use Microdata Areas (PUMAs) during the past decade. Major findings include: 1) New York City residents tend to move less frequently than those of other major cities; 2) the city displays two distinct dimensions of geographic mobility—one associated with high population turnover (number of residents moving in and out of a neighborhood) and a second associated with net population change (shifts in the ethnic and educational composition of the area); and 3) the presence of cultural assets in the neighborhood is associated with high turnover, but not with shifts in the ethnic and educational composition of the area. The paper concludes with observations about how these different patterns might affect residents’ experience of rapid neighborhood change.