The main purpose of this article is to systematize issues related to recognizing and measuring the gentrification process using quantitative methods. The article discusses the definition of gentrification, its phases and types, factors influencing the creation and development of the process, as well as gentrification indicators, and it briefly reviews existing research of their use. Although there are Polish publications on the process of gentrification, there is a perceptible lack of comparison of gentrification indicators and the conditions in which they are used. Thanks to the selection of indicators that are appropriate for gentrification analysis in Polish cities and their testing in a case study of the gentrification process in Kraków, Poland, this article may help to create a methodology for empirical research.