With sky-high inflation and a widespread cost of living crisis, most Americans are feeling the pinch — but it's still not clear whether a recession is on the horizon, or whether we're already in one. One indicator has put the probability of a recession in the US at as high as 99.3 percent, so it might be worth knowing where in the country you're best off riding out a prolonged economic downturn.
To find out which cities provide the best environment for weathering a recession, SmartAsset compared 429 places across America — on employment, housing, social assistance and economic stability — and ranked them according to their scores.
Key Findings:
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Of the top ten cities, eight were in Colorado, California, Utah and Washington. The first and second spots on the list were both Colorado locations: Castle Rock and Highlands Ranch, respectively.
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Things are mixed in California, where cities like Sunnyvale, Santa Clara, Mountain View, Milpitas and Palo Alto ranked among the fastest growing economies, while other areas like Visalia, Tulare and Merced suffer from some of the highest unemployment rates noted in the study.
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The research indicates those living in Florida are likely to have a tough time during a recession. Fort Lauderdale, West Palm Beach, Miami Beach, Fort Myers and Daytona Beach all rank poorly on the list, as residents in these areas tend to be more house-poor and have lower rates of health insurance coverage than others.
Via SmartAsset.
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