Forbes: America’s Fastest-Recovering Cities
November 19, 2009
Real Estate
Full List: America’s Fastest-Recovering Cities
Francesca Levy, 11.19.09, 04:00 PM EST
Diversified industry and relatively stable housing give residents in these metros a measure of economic security.
| Recovery City Ranking |
MSA |
GMP Rank |
Unemployment Rank |
Home Price Rank |
Foreclosure Rank |
Sales Rate Rank |
|---|---|---|---|---|---|---|
| 1 | Omaha-Council Bluffs, NE-IA Metro Area | 33 | 1 | 12 | 8 | 16 |
| 2 | San Antonio, TX Metro Area | 13 | 14 | 8 | 36 | 2 |
| 3 | Austin-Round Rock, TX Metro Area | 2 | 18 | 17 | 35 | 15 |
| 4 | Pittsburgh, PA Metro Area | 46 | 24 | 2 | 12 | 5 |
| 5 | Harrisburg-Carlisle, PA Metro Area | 51 | 23 | 37 | 3 | 32 |
| 6 | Dallas-Fort Worth-Arlington, TX Metro Area | 25 | 35 | 4 | 51 | 16 |
| 7 | Rochester, NY Metro Area | 47 | 30 | 22 | 9 | 18 |
| 8 | Houston-Sugar Land-Baytown, TX Metro Area | 53 | 40 | 1 | 43 | 32 |
| 9 | Raleigh-Cary, NC Metro Area | 22 | 42 | 32 | 22 | 30 |
| 10 | Baton Rouge, LA Metro Area | 58 | 14 | 9 | 15 | 75 |
| 11 | Little Rock-North Little Rock-Conway, AR Metro Area | 65 | 4 | 13 | 41 | 44 |
| 12 | Tulsa, OK Metro Area | 41 | 13 | 14 | 78 | 37 |
| 13 | Oklahoma City, OK Metro Area | 6 | 4 | 25 | 40 | 28 |
| 14 | Colorado Springs, CO Metro Area | 5 | 18 | 42 | 61 | 22 |
| 15 | Seattle-Tacoma-Bellevue, WA Metro Area | 18 | 51 | 77 | 19 | 5 |
| 16 | Buffalo-Niagara Falls, NY Metro Area | 33 | 38 | 5 | 5 | 44 |
| 16 | Syracuse, NY Metro Area | 30 | 31 | 6 | 2 | 40 |
| 18 | Madison, WI Metro Area | 25 | 3 | 38 | 13 | 79 |
| 19 | Nashville-Davidson–Murfreesboro–Franklin, TN Metro Area | 25 | 54 | 35 | 17 | 4 |
| 20 | Virginia Beach-Norfolk-Newport News, VA-NC Metro Area | 51 | 12 | 57 | 30 | 61 |
| 21 | Washington-Arlington-Alexandria, DC-VA-MD-WV Metro Area | 11 | 8 | 72 | 71 | 22 |
| 22 | Augusta-Richmond County, GA-SC Metro Area | 18 | 56 | 20 | 23 | 54 |
| 22 | Bridgeport-Stamford-Norwalk, CT Metro Area | 91 | 29 | 65 | 29 | 37 |
| 24 | Albuquerque, NM Metro Area | 15 | 28 | 59 | 25 | 66 |
| 25 | Boston-Cambridge-Quincy, MA-NH Metro Area | 18 | 46 | 50 | 31 | 29 |
| 26 | Allentown-Bethlehem-Easton, PA-NJ Metro Area | 58 | 51 | 61 | 20 | 11 |
| 27 | Albany-Schenectady-Troy, NY Metro Area | 4 | 18 | 30 | 4 | 61 |
| 28 | Denver-Aurora, CO Metro Area | 18 | 14 | 21 | 73 | 31 |
| 28 | Ogden-Clearfield, UT Metro Area | 43 | 8 | 55 | 64 | 37 |
| 30 | Scranton–Wilkes-Barre, PA Metro Area | 53 | 46 | 11 | 10 | 79 |
| 31 | Wichita, KS Metro Area | 8 | 42 | 3 | 21 | 40 |
| 32 | Knoxville, TN Metro Area | 15 | 42 | 15 | 11 | 44 |
| 33 | Portland-South Portland-Biddeford, ME Metro Area | 25 | 11 | 54 | 6 | 54 |
| 34 | Honolulu, HI Metro Area | 30 | 10 | 67 | 16 | 75 |
| 35 | Columbia, SC Metro Area | 37 | 56 | 7 | 37 | 85 |
| 35 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD Metro Area | 47 | 46 | 49 | 26 | 44 |
| 37 | Louisville-Jefferson County, KY-IN Metro Area | 85 | 66 | 29 | 28 | 3 |
| 37 | Minneapolis-St. Paul-Bloomington, MN-WI Metro Area | 24 | 21 | 60 | 55 | 27 |
| 39 | Des Moines-West Des Moines, IA Metro Area | 37 | 6 | 24 | 39 | 66 |
| 40 | Birmingham-Hoover, AL Metro Area | 81 | 68 | 18 | 53 | 50 |
| 41 | Richmond, VA Metro Area | 69 | 26 | 56 | 42 | 90 |
| 42 | Jackson, MS Metro Area | 62 | 14 | 10 | 74 | 79 |
| 43 | El Paso, TX Metro Area | 3 | 63 | 31 | 1 | 95 |
| 44 | Indianapolis-Carmel, IN Metro Area | 53 | 26 | 33 | 67 | 77 |
| 45 | Salt Lake City, UT Metro Area | 47 | 6 | 69 | 76 | 40 |
| 46 | Baltimore-Towson, MD Metro Area | 37 | 24 | 74 | 62 | 61 |
| 47 | Columbus, OH Metro Area | 63 | 32 | 34 | 46 | 44 |
| 48 | McAllen-Edinburg-Mission, TX Metro Area | 1 | 82 | 43 | 24 | 97 |
| 49 | Hartford-West Hartford-East Hartford, CT Metro Area | 65 | 35 | 52 | 18 | 66 |
| 49 | New Orleans-Metairie-Kenner, LA Metro Area | 76 | 21 | 28 | 32 | 95 |
| 51 | Chattanooga, TN-GA Metro Area | 71 | 50 | 26 | 27 | 72 |
| 51 | Poughkeepsie-Newburgh-Middletown, NY Metro Area | 7 | 32 | 70 | 7 | 93 |
| 53 | Greensboro-High Point, NC Metro Area | 70 | 78 | 19 | 33 | 61 |
| 54 | Charlotte-Gastonia-Concord, NC-SC Metro Area | 73 | 82 | 39 | 47 | 79 |
| 55 | Cincinnati-Middletown, OH-KY-IN Metro Area | 63 | 53 | 40 | 60 | 26 |
| 55 | San Jose-Sunnyvale-Santa Clara, CA Metro Area | 33 | 85 | 85 | 77 | 18 |
| 57 | Portland-Vancouver-Beaverton, OR-WA Metro Area | 13 | 75 | 73 | 54 | 50 |
| 57 | San Diego-Carlsbad-San Marcos, CA Metro Area | 9 | 68 | 78 | 84 | 21 |
| 59 | Milwaukee-Waukesha-West Allis, WI Metro Area | 37 | 40 | 46 | 49 | 66 |
| 60 | Cleveland-Elyria-Mentor, OH Metro Area | 85 | 35 | 45 | 63 | 40 |
| 61 | San Francisco-Oakland-Fremont, CA Metro Area | 65 | 70 | 76 | 79 | 12 |
| 62 | Springfield, MA Metro Area | 22 | 60 | 53 | 38 | 60 |
| 63 | Provo-Orem, UT Metro Area | 15 | 2 | 75 | 88 | 78 |
| 64 | New York-Northern New Jersey-Long Island, NY-NJ-PA Metro Area | 11 | 54 | 66 | 14 | 89 |
| 64 | Tucson, AZ Metro Area | 47 | 38 | 82 | 70 | 12 |
| 66 | Greenville-Mauldin-Easley, SC Metro Area | 43 | 70 | 16 | 58 | 72 |
| 67 | New Haven-Milford, CT Metro Area | 58 | 32 | 64 | 45 | 90 |
| 72 | Youngstown-Warren-Boardman, OH-PA Metro Area | 97 | 89 | 23 | 34 | 58 |
| 68 | St. Louis, MO-IL Metro Area | 9 | 64 | 41 | 48 | 44 |
| 69 | Memphis, TN-MS-AR Metro Area | 83 | 64 | 27 | 65 | 72 |
| 70 | Kansas City, MO-KS Metro Area | 33 | 49 | 36 | 52 | 66 |
| 70 | Phoenix-Mesa-Scottsdale, AZ Metro Area | 82 | 42 | 93 | 90 | 22 |
| 73 | Akron, OH Metro Area | 56 | 58 | 44 | 57 | 54 |
| 74 | Grand Rapids-Wyoming, MI Metro Area | 88 | 87 | 62 | 72 | 1 |
| 75 | Atlanta-Sandy Springs-Marietta, GA Metro Area | 83 | 72 | 48 | 83 | 54 |
| 75 | Charleston-North Charleston-Summerville, SC Metro Area | 25 | 61 | 58 | 66 | 85 |
| 77 | Worcester, MA Metro Area | 30 | 61 | 63 | 56 | 93 |
| 78 | Boise City-Nampa, ID Metro Area | 90 | 58 | 83 | 92 | 32 |
| 78 | Riverside-San Bernardino-Ontario, CA Metro Area | 85 | 97 | 98 | 96 | 22 |
| 80 | Palm Bay-Melbourne-Titusville, FL Metro Area | 43 | 78 | 89 | 75 | 54 |
| 81 | Los Angeles-Long Beach-Santa Ana, CA Metro Area | 58 | 87 | 88 | 81 | 8 |
| 82 | Sacramento–Arden-Arcade–Roseville, CA Metro Area | 79 | 85 | 81 | 93 | 32 |
| 83 | Las Vegas-Paradise, NV Metro Area | 76 | 93 | 100 | 100 | 5 |
| 84 | Bakersfield, CA Metro Area | 76 | 93 | 95 | 95 | 18 |
| 85 | Orlando-Kissimmee, FL Metro Area | 65 | 81 | 90 | 94 | 54 |
| 86 | Chicago-Naperville-Joliet, IL-IN-WI Metro Area | 73 | 66 | 68 | 68 | 85 |
| 87 | Fresno, CA Metro Area | 41 | 96 | 92 | 89 | 9 |
| 87 | Modesto, CA Metro Area | 56 | 98 | 97 | 98 | 12 |
| 89 | Dayton, OH Metro Area | 93 | 73 | 47 | 44 | 98 |
| 90 | Providence-New Bedford-Fall River, RI-MA Metro Area | 73 | 89 | 71 | 50 | 79 |
| 90 | Stockton, CA Metro Area | 71 | 99 | 94 | 97 | 10 |
| 92 | Toledo, OH Metro Area | 93 | 78 | 51 | 59 | 85 |
| 93 | Bradenton-Sarasota-Venice, FL Metro Area | 99 | 91 | 91 | 69 | 90 |
| 94 | Tampa-St. Petersburg-Clearwater, FL Metro Area | 96 | 84 | 87 | 80 | 61 |
| 95 | Oxnard-Thousand Oaks-Ventura, CA Metro Area | 98 | 77 | 84 | 85 | 79 |
| 96 | Jacksonville, FL Metro Area | 93 | 73 | 79 | 86 | 66 |
| 97 | Miami-Fort Lauderdale-Pompano Beach, FL Metro Area | 88 | 75 | 99 | 91 | 50 |
| 98 | Detroit-Warren-Livonia, MI Metro Area | 92 | 100 | 80 | 82 | 32 |
| 99 | Cape Coral-Fort Myers, FL Metro Area | 100 | 93 | 96 | 99 | 100 |
| 100 | Lakeland-Winter Haven, FL Metro Area | 80 | 92 | 86 | 87 | 99 |
Methodology
To form our list, we ranked the 100 largest Metropolitan Statistical Areas–geographic entities that the U.S. Office of Management and Budget defines and uses in collecting statistics–in five categories: unemployment rate, Gross Metropolitan Product (a measure of the size of a city’s economy), foreclosures, home prices, and sales rates.
We ranked September unemployment rates (the most recent available by metro)using data from the Bureau of Labor Statistics; the percentage of a metro’s homes in foreclosure with September data provided by RealtyTrac; and the change in Gross Metropolitan Product between the first and second quarter of 2009 from the Brookings Institution’s MetroMonitor. We also included the second quarter 2009 year-over-year change in Freddie Mac’s ( FRE - news - people ) Conventional Mortgage Home Price Index–a measure of housing price inflation–and the average days on the market for properties currently on sale (to measure sales rates), from data from Zillow.com. We then averaged the scores for each measure to arrive at an overall ranking.



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