The effect of all this upon New York City was revolutionary. Its population increased from 123,000 in 1820 to 202,000 in 1830. Its real and personal estate rose in value from about seventy million dollars in 1820 to about one hundred and twenty-five million dollars in 1830. The most significant result of the canal was the development of the commerce of New York City, which rose from a market town for the Hudson River to be the metropolis of the north.