But Detroit is just one of 13 municipalities in America that have filed for bankruptcy.
With Detroit’s bankruptcy trial approaching, and many other cities still struggling to recover from the Great Recession, the personal finance social network WalletHub crunched the numbers to identify 2014's Most & Least Recession-Recovered Cities.
WalletHub’s analysts looked at 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 — WalletHub’s analysts examined how each city has evolved economically in the past several years.
Here are some of the notable notes.
- Mobile, Alabama, experienced the largest increase in its unemployment rate, at 4%. Toledo, Ohio, experienced the largest decrease, at 1%.
- Cape Coral, Florida, 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, North Carolina. experienced the highest population growth rate, at 21%. Detroit experienced the highest decline, at 16%.
- Orlando experienced the largest decrease in its violent crime rate, at 1%. Springfield, Missouri, experienced the largest increase, at 0.3%.
- Corpus Christi, Texas, experienced the largest increase in GDP, at 30%. Cape Coral experienced the largest decrease, at 6%.
Click below to see the list of the most and least recovered U.S. cities.