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 20, 2012
2012 Giants 300 Special Report
Ranking the leading firms in Architecture, Engineering, and Construction.
| Jul 20, 2012
Data Centers Report: Demand ‘exploding’
BD+C's Giants 300 Top 25 AEC Firms in the Data Center sector.
| Jul 20, 2012
Office Report: Fitouts, renovations keep sector moving
BD+C's Giants 300 Top 25 AEC Firms in the Office sector.
| Jul 20, 2012
K-12 Schools Report: ‘A lot of pent-up need,’ with optimism for ’13
The Giants 300 Top 25 AEC Firms in the K-12 Schools Sector.
| Jul 20, 2012
Higher education market holding steady
But Giants 300 University AEC Firms aren’t expecting a flood of new work.
| Jul 20, 2012
3 important trends in hospital design that Healthcare Giants are watching closely
BD+C’s Giants 300 reveals top AEC firms in the healthcare sector.
| Jul 20, 2012
Global boom for hotels; for retail, not so much
The Giants 300 Top 10 Firms in the Hospitality and Retail sectors.
| Jul 20, 2012
Gensler, Stantec, Turner lead ‘green’ firms
The Top 10 AEC Firms in Green Buildings and LEED Accredited Staff.
| Jul 19, 2012
Renovation resurgence cuts across sectors
Giants 300 reconstruction sector firms ‘pumping fresh blood in tired spaces.’