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
| Dec 19, 2014
Chicago Architecture Biennial to hold 'Lakefront Kiosk Competition'
The first Chicago Architecture Biennial will take place from October 2015-January 2016, with a theme of "The State of the Art of Architecture."
| Dec 18, 2014
Frank Lloyd Wright's Taliesin West to be recreated—with LEGO
Containing more than 180,000 LEGO bricks in 11 colors and 120 different shapes, the model measures eight by four feet and is made entirely of standard LEGO parts.
| Dec 18, 2014
11 new highs for tall buildings: CTBUH recaps the year's top moments in skyscraper construction
The Council on Tall Buildings and Urban Habitat cherrypicked the top moments from 2014, including a record concrete pour, a cautionary note about high-rise development, and two men's daring feat.
| Dec 18, 2014
International Parking Institute and Green Parking Council collaborate with GBCI
The new collaboration recognizes importance of sustainable parking facility design and management to the built environment.
| Dec 18, 2014
Top 10 sports facilities of 2014: Designboom ranks the year's best projects
The list includes some of the year's epic stadiums, such as World Cup Stadium Arena de Amazonia in Manaus, Brazil, and smaller projects, like the Spordtgebouw Sports Centerin the Netherlands.
| Dec 18, 2014
In response to ultra-open and uber-collaborative office environments
Susan Cain’s bestselling 2012 book, "Quiet: The Power of Introverts in a World That Can’t Stop Talking" has made an impact on how we understand our current workforce, recognizing that at least one-third of the people we work with are introverts, writes SRG Partnership's Susan Gust.
| Dec 17, 2014
USGBC announces 2014 Best of Green Schools honorees
Houston's Monarch School was named the K-12 school of the year, and Western Michigan University was honored as the top higher-ed institution, based on environmental programs and education efforts.
| Dec 17, 2014
ULI report looks at growing appeal of micro unit apartments
New research from the Urban Land Institute suggests that micro units have staying power as a housing type that appeals to urban dwellers in high-cost markets who are willing to trade space for improved affordability and proximity to downtown neighborhoods.
| Dec 17, 2014
11 predictions for high-rise construction in 2015
In its annual forecast, the Council on Tall Buildings and Urban Habitat predicts that 2015 will be the "Year of the Woodscraper," and that New York’s troubled B2 modular high-rise project will get back on track.
| Dec 17, 2014
Demand softens, but outlook for Architecture Billings Index remains positive
The AIA's Architecture Billings Index for November was 50.9, down from a mark of 53.7 in October. Despite the drop, the ABI continued its seven-month run of positive scores (above 50).