Business & Tech
Which California Cities Have Fared Best and Worst Since the Recession?
One Southern California city has fared worse than every other major city in the nation while a Northern California city is thriving.
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When it comes to cities circling the drain, most people would guess bankrupt Detroit has fared the worst since the recession ended, but they would be wrong.
According to WaletHub’s study of the Most & Least Recession-Recovered Cities in the nation, one Southern California city ranks as the least recovered.
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But It’s not all bad news for the Golden State.
One California city cracked the top 10 most recovered cities in the nation, a list largely dominated by the Lone Star state of Texas.
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WaletHub looked at 17 key economic indicators such as changes in poverty level, crime, unemployment, full-time vs. part time employment, college educated employees and home prices since the end of the recession.
In a comparison of the nation’s largest 150 cities, Lubbock, Texas, topped the nation while San Bernardino came in dead last.
WalletHub notes, “The effects of the recession still reverberate in various parts of the U.S., falling deeper into debt and leaving millions of Americans wondering whether the recession has indeed blown over. Since 2008, a total of 14 municipalities, including Detroit, have declared the rare Chapter 9 bankruptcy.”
Other cities, such as San Francisco, which ranks eighth on the list, have seen brisk job growth and skyrocketing home prices to boot.
Most Recession-Recovered Cities
1. Lubbock, TX
2. Denver, CO
3. Corpus Christi, TX
4. Anchorage, AK
5. Houston, TX
6. Oklahoma City, OK
7. Minneapolis, MN
8. San Francisco, CA
9. Fayetteville, NC
10. El Paso, TX
Least Recession-Recovered Cities
141. Stockton, CA
142. Detroit, MI
143. Mesa, AZ
144. Tempe, AZ
145. Modesto, CA
146. Glendale, AZ
147. Henderson, NV
148. North Las Vegas, NV
149. Tucson, AZ
150. San Bernardino, CA
Overall, there were 28 California cities on the list. After San Francisco, San Jose came in at 13, Oxnard at 15, Oakland at 28, Garden Grove at 44, Fremont at 49, Santa Rosa at 50, San Diego at 62, Santa Ana at 70, Irvine at 72, Chula Vista at 82, Los Angeles at 83, Long Beach at 84, Sacramento at 87, Bakersfield at 89, Glendale at 95, Anaheim at 105, Huntington Beach at 109, Moreno Valley at 122, Fontana at 124, Santa Clarita at 125, Ontario at 126, Rancho Cucamonga at 128, Oceanside at 132, Riverside at 135, and Fresno at 136.
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