The 3 fastest-declining Florida cities
(NEXSTAR) — What does it mean for a city to be declining?
A recent analysis by data outlet FinanceBuzz aimed to track the growth (or decline) of several U.S. metros from 2019 through the end of 2022. To do this, FinanceBuzz analysts looked at cities that had populations of 200,000 or more as of 2019 and then weighed a variety of factors, including population growth/decline, unemployment, income, percentage of vacant homes, and number of residents with collections debt.
All-in-all, 117 U.S. cities were ranked on a 100-point scale, with “high” scores meaning a greater scale of decline. These are the top 3 fastest-declining in Florida.
Fastest-declining Florida cities
- Hialeah — Population change: -5.59%. This Miami-Dade County city received an overall Decline Score of 45.9, with unemployment growth of just 1%, home value growth rate of 6.9% and 27% of residents with debt in collections.
- St. Petersburg — Population change: -1.54%. Decline Score: 45.2.
- Jacksonville — Population change: 6.56%. While Jacksonville’s population growth is positive, a few other factors drag its score down, including a -0.60% unemployment rate change and a -0.2% per capita income change compared to other cities. Decline Score: 44.6.
For more detailed information on these cities’ stats, visit FinanceBuzz.
As far as fastest-declining cities go, the majority of FinanceBuzz’s top 10 is dominated by many of the U.S.’s biggest cities.
There will be few surprised to learn that San Francisco ranked no. 1, with a 2019-22 population change of -8.29% and a home value growth rate that’s nearly 73% slower than the national average. The City by the Bay received a total Decline Score of 73.9 (the highest) and is followed by New Orleans, New York City, Boston, and more.
All-in-all, Florida fared pretty well in the analysis. Though it’s the top declining Florida city in FinanceBuzz’s ranking, Hialeah doesn’t even appear on the list until its ranking at no. 84 nationally.
Several Florida cities…
