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Recession recovery spotty among American cities: WalletHub report

Recession recovery spotty among American cities: WalletHub report

Texas metros show great momentum, but a number of Arizona and California cities are still struggling to recover.


By WalletHub | August 1, 2014
Denver is among the "most recovered" American cities, post-recession, according
Denver is among the "most recovered" American cities, post-recession, according to WalletHub. Photo by Flickr user Larry Johnson

Since 2008, 13 municipalities have filed for bankruptcy. With Detroitā€™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 identifyĀ 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 ā€” from the inflow of college-educated workers and number of new businesses to unemployment rates and home price appreciation ā€” 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.
Ā 

Ā  Most Recession-Recovered Cities Ā  Least Recession-Recovered Cities
Ā  1. Laredo, TX Ā  141. Riverside, CA
Ā  2. Irving, TX Ā  142. Tempe, AZ
Ā  3. Fayetteville, NC Ā  143. Glendale, AZ
Ā  4. Denver, CO Ā  144. Tucson, AZ
Ā  5. Dallas, TX Ā  145. Cape Coral, FL
Ā  6. Corpus Christi, TX Ā  146. Detroit, MI
Ā  7. Minneapolis, MN Ā  147. Modesto, CA
Ā  8. Lubbock, TX Ā  148. Newark, NJ
Ā  9. Garland, TX Ā  149. Stockton, CA
Ā  10. Raleigh, NC Ā  150. San Bernardino, CA


Key Stats

  • Mobile, Ala., experienced the largest increase in itsĀ unemployment rate, at 4%. Toledo, Ohio experienced the largest decrease, at 1%.
    Ā 
  • Cape Coral, Fla., experienced the largest increase in itsĀ poverty rate, at 8%. El Paso, Texas, experienced the largest decrease, at 5%.
    Ā 
  • New Orleans registered the highestĀ home price appreciation, at 64%. Detroit registered the highest home price depreciation, with a loss of 65%.
    Ā 
  • Raleigh, N. C. experienced the highestĀ population growth rate, at 21%. Detroit experienced the highest decline, at 16%.
    Ā 
  • Orlando, Fla., experienced the largest decrease in itsĀ violent crime rate, at 1%. Springfield, Mo., experienced the largest increase, at 0.3%.
    Ā 
  • Corpus Christi, Texas, experienced the largest increase inĀ 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-least-recession-recovered-cities/5219/

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