The $r$-fold edgewise subdivision is a well studied flag triangulation of the simplex with interesting algebraic, combinatorial and geometric properties. An important enumerative invariant, namely the local $h$-polynomial, of this triangulation is computed and shown to be $γ$-nonnegative by providing explicit combinatorial interpretations to the corresponding coefficients. A construction of a flag triangulation of the seven-dimensional simplex whose local $h$-polynomial is not real-rooted is also described.