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
| Jul 7, 2014
7 emerging design trends in brick buildings
From wild architectural shapes to unique color blends and pattern arrangements, these projects demonstrate the design possibilities of brick.
| Jul 7, 2014
A climate-controlled city is Dubai's newest colossal project
To add to Dubai's already impressive portfolio of world's tallest tower and world's largest natural flower garden, Dubai Holding has plans to build the world's largest climate-controlled city.
Sponsored | | Jul 7, 2014
Channel glass illuminates science at the University of San Francisco
The University of San Francisco’s new John Lo Schiavo Center for Science and Innovation brings science to the forefront of academic life. Its glossy, three-story exterior invites students into the facility, and then flows sleekly down into the hillside where below-grade laboratories and classrooms make efficient use of space on the landlocked campus.
| Jul 7, 2014
How to keep an employee from jumping ship
The secret to keeping your best employees productive and happy isn’t throwing money at them, as studies have continuously shown that money isn’t the top factor in employee happiness. Here are four strategies from leadership coach Kristi Hedges. SPONSORED CONTENT
| Jul 7, 2014
Nothing fixes a bad manager
Companies seem to try everything imaginable to fix their workplaces, says Gallup Chairman and CEO Jim Clifton in a recent blog post, except the only thing that matters: naming the right person manager. SPONSORED CONTENT
| Jul 3, 2014
Gehry edits Canadian skyscraper plan to be 'more Toronto'
After being criticized for the original tower complex, architect Frank Gehry unveils a new design that is more subtle, and "more Toronto."
| Jul 2, 2014
First Look: Qatar World Cup stadium design references nomadic heritage
Organizers of the Qatar 2022 World Cup, the Supreme Committee for Delivery and Legacy, recently unveiled designs for the second stadium.
| Jul 2, 2014
SHoP designs what would be Brooklyn's tallest building
JDS Development partners with SHoP to construct a 70-story building at 775-feet tall, unprecedented for downtown Brooklyn.
| Jul 2, 2014
The doctor is in the firehouse: New clinic to be built in California fire station
Designed by WRNS Studio, the Firehouse Clinic will encourage local residents with limited healthcare access to consider them as an alternative to the emergency room, especially for preventive care.
| Jul 2, 2014
Emerging trends in commercial flooring
Rectangular tiles, digital graphic applications, the resurgence of terrazzo, and product transparency headline today’s commercial flooring trends.