State Capitol News
8:43 am
Thu July 31, 2014

Several Arizona Cities Still Hard Hit by Recession

A new study shows several of the state’s cities are among the worst in recovering from the recession. Arizona Public Radio’s Howard Fischer reports.

The downtown skyline of Tucson.
Credit tucsonaz.gov


The report by the financial advisory firm of Wallet Hub finds Tucson ranks 143rd out of the Top 150 communities for getting back to normal following the recession. Glendale did little better at 142, with Tempe just a notch above that. Among all Arizona communities ranked, Chandler fared better than others. But, that still placed it only 91st on the list, followed by Gilbert at 92 and Scottsdale at 96.

Peoria came in at 123, with Mesa at 135 and Phoenix at 138. To make its rankings, the company analyzed employment and earning opportunities using things like decreases in the unemployment rate, increases in median household income and even how many more college-educated workers had moved into the area.

But, the study also considered home prices, foreclosure rates and even how much the average credit score went up. Based on all that, Wallet Hub listed Laredo, Texas, as the most recovered, with five other Texas cities in the Top 10. And, three California cities shared that Bottom 10 list with Tucson, Glendale and Tempe, with San Bernardino coming in dead last.