Lower then average income area. Used to actually be low income but about 25 years ago the city rethought how it subsidized housing. This is a highly mixed neighborhood made up of some government subsidized housing units, some private market units and a lot of co-op units (these tend to attract the lower middle class). It is a phenomenal location being right beside China Town and Kensignton Market and very close to the Trinity Village - and 10-15 minutes walk from pretty much everywhere cool in Toronto. The free market units go for thousands of dollars a month. People are willing to pay through the nose to live here.
This is right beside Kensington Market. Any summer evening (or around Christmas) this area is completely packed. Really popular area. Regent Park is fine and all, especially with all the new development, but it is by no means a destination area.