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
K-12 Schools | Aug 8, 2024
New K-12 STEM center hosts robotics learning, competitions in Houston suburb
A new K-12 STEM Center in a Houston suburb is the venue for robotics learning and competitions along with education about other STEM subjects. An unused storage building was transformed into a lively space for students to immerse themselves in STEM subjects. Located in Texas City, the ISD Marathon STEM and Robotics Center is the first of its kind in the district.
Affordable Housing | Aug 7, 2024
The future of affordable housing may be modular, AI-driven, and made of mushrooms
Demolished in 1989, The Phoenix Ironworks Steel Factory left a five-acre hole in West Oakland, Calif. After sitting vacant for nearly three decades, the site will soon become utilized again in the form of 316 affordable housing units.
Architects | Aug 5, 2024
Mastering the art of project schedule: Expert insights on design and construction
We sat down with two experts in the design field, Ron Dick (Founding Partner and Architect) and Mike Niezer (COO and Architect), to talk about everything you need to know about the entire process.
University Buildings | Aug 1, 2024
UC Riverside’s student health center provides an environment on par with major medical centers
The University of California, Riverside's new Student Health and Counseling Center (SHCC) provides a holistic approach to wellness for students throughout the UC Riverside campus. Designed by HGA and delivered through a design-build partnership with Turner Construction Company, SHCC provides healthcare offerings in an environment on par with major medical centers.
Libraries | Aug 1, 2024
How current and future trends are shaping the libraries of tomorrow
Over the last few years, public libraries have transitioned from being buildings that only store and lend books to being fully featured community centers.
MFPRO+ News | Aug 1, 2024
Canada tries massive incentive program to spur new multifamily housing construction
Canada has taken the unprecedented step of offering billions in infrastructure funds to communities in return for eliminating single-family housing zoning.
Government Buildings | Aug 1, 2024
One of the country’s first all-electric fire stations will use no outside energy sources
Charlotte, N.C.’s new Fire Station #30 will be one of the country’s first all-electric fire stations, using no outside energy sources other than diesel fuel for one or two of the fire trucks. Multiple energy sources will power the station, including solar roof panels and geothermal wells. The two-story building features three truck bays, two fire poles, dispatch area, contamination room, and gear storage.
Contractors | Aug 1, 2024
Nonresidential construction spending decreased 0.2% in June
National nonresidential construction spending declined 0.2% in June, according to an Associated Builders and Contractors analysis of data published today by the U.S. Census Bureau. On a seasonally adjusted annualized basis, nonresidential spending totaled $1.21 trillion. Nonresidential construction has expanded 5.3% from a year ago.
Student Housing | Jul 31, 2024
The University of Michigan addresses a decades-long student housing shortage with a new housing-dining facility
The University of Michigan has faced a decades-long shortage of on-campus student housing. In a couple of years, the situation should significantly improve with the addition of a new residential community on Central Campus in Ann Arbor, Mich. The University of Michigan has engaged American Campus Communities in a public-private partnership to lead the development of the environmentally sustainable living-learning student community.
MFPRO+ New Projects | Jul 31, 2024
Shipping containers converted into attractive, affordable multifamily housing in L.A.
In the Watts neighborhood in Los Angeles, a new affordable multifamily housing project using shipping containers resulted in 24 micro-units for formerly unhoused residents. The containers were acquired from a nearby port and converted into housing units at a factory.
