Since 2008, 13 municipalities have filed for bankruptcy. With Detroit’s bankruptcy trial approaching, and many other cities still struggling to recover from the Great Recession, personal finance social network WalletHub crunched the numbers to identify 2014's Most & Least Recession-Recovered Cities.
To evaluate the progress of local cities in propelling their economic growth, WalletHub compared the 150 largest U.S. cities to identify those that have experienced the most and least improvement since the recession. Using 18 key metrics — from the inflow of college-educated workers and number of new businesses to unemployment rates and home price appreciation — we examined how each city has evolved economically in the past several years. By doing so, WalletHub can help consumers assess how their present financial situations might be affected by the economic health of their cities.
Most Recession-Recovered Cities | Least Recession-Recovered Cities | ||||
1. | Laredo, TX | 141. | Riverside, CA | ||
2. | Irving, TX | 142. | Tempe, AZ | ||
3. | Fayetteville, NC | 143. | Glendale, AZ | ||
4. | Denver, CO | 144. | Tucson, AZ | ||
5. | Dallas, TX | 145. | Cape Coral, FL | ||
6. | Corpus Christi, TX | 146. | Detroit, MI | ||
7. | Minneapolis, MN | 147. | Modesto, CA | ||
8. | Lubbock, TX | 148. | Newark, NJ | ||
9. | Garland, TX | 149. | Stockton, CA | ||
10. | Raleigh, NC | 150. | San Bernardino, CA |
Key Stats
- Mobile, Ala., experienced the largest increase in its unemployment rate, at 4%. Toledo, Ohio experienced the largest decrease, at 1%.
- Cape Coral, Fla., experienced the largest increase in its poverty rate, at 8%. El Paso, Texas, experienced the largest decrease, at 5%.
- New Orleans registered the highest home price appreciation, at 64%. Detroit registered the highest home price depreciation, with a loss of 65%.
- Raleigh, N. C. experienced the highest population growth rate, at 21%. Detroit experienced the highest decline, at 16%.
- Orlando, Fla., experienced the largest decrease in its violent crime rate, at 1%. Springfield, Mo., experienced the largest increase, at 0.3%.
- Corpus Christi, Texas, experienced the largest increase in GDP, at 30%. Cape Coral, Fla., experienced the largest decrease, at 6%.
For the full report and to see where your city ranks, please visit:
http://wallethub.com/edu/most-
Related Stories
Energy-Efficient Design | Apr 19, 2022
A prefab second skin can make old apartments net zero
A German startup is offering a new way for old buildings to potentially reach net-zero status: adding a prefabricated second skin.
Concrete Technology | Apr 19, 2022
SGH’s Applied Science & Research Center achieves ISO 17025 accreditation for concrete testing procedures
Simpson Gumpertz & Heger’s (SGH) Applied Science & Research Center recently received ISO/IEC17025 accreditation from the American Association for Laboratory Accreditation (A2LA) for several concrete testing methods.
Senior Living Design | Apr 19, 2022
Affordable housing for L.A. veterans and low-income seniors built on former parking lot site
The Howard and Irene Levine Senior Community, designed by KFA Architecture for Mercy Housing of California, provides badly needed housing for Los Angeles veterans and low-income seniors
Sponsored | BD+C University Course | Apr 19, 2022
Multi-story building systems and selection criteria
This course outlines the attributes, functions, benefits, limits, and acoustic qualities of composite deck slabs. It reviews the three primary types of composite systems that represent the full range of long-span composite floor systems and examines the criteria for their selection, design, and engineering.
Building Team | Apr 18, 2022
Shive-Hattery Acquires WSM Architects
Shive-Hattery announces that it has acquired WSM Architects, Inc., a 13-person architecture firm in Tucson, Arizona.
University Buildings | Apr 18, 2022
SmithGroup to design new Univ. of Colorado Denver engineering, design, computing building
The University of Colorado Denver selected SmithGroup to design a new engineering, design, and computing building that will serve as anchor of new downtown innovation district.
Building Team | Apr 15, 2022
Frank Gehry to design his largest building yet for his hometown of Toronto
Famed architect Frank Gehry will design his largest building to date for his hometown of Toronto, Canada.
Healthcare Facilities | Apr 14, 2022
Healthcare construction veteran creates next-level IPD process for hospital projects
Can integrated project delivery work without incentives for building team members? Denton Wilson thinks so.
Industrial Facilities | Apr 14, 2022
JLL's take on the race for industrial space
In the previous decade, the inventory of industrial space couldn’t keep up with demand that was driven by the dual surges of the coronavirus and online shopping. Vacancies declined and rents rose. JLL has just published a research report on this sector called “The Race for Industrial Space.” Mehtab Randhawa, JLL’s Americas Head of Industrial Research, shares the highlights of a new report on the industrial sector's growth.
High-rise Construction | Apr 14, 2022
Seattle’s high-rise convention center nears completion
The new Washington State Convention Center Summit Building—billed as the first high-rise convention center in North America—is on track to complete most of its construction later this year.