The 11 US Cities That Are Having the Best Recoveries

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Houston
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Houston skyline at night

A surprising spike in home prices in some of America's biggest cities has boosted the recovery, according to Brookings' latest report.

The MetroMonitor looks at employment, unemployment, production, and home prices. We identified the strongest economic recoveries from trough to the third quarter of 2012.

“Notably, the strongest performances over the last quarter were in parts of the country hit hardest by the housing crisis, but those are also the places with the furthest left to go,” said Alec Friedhoff, the lead developer of the report.

New Orleans ranked first for the second year since its economic trough occurred in 2005 after Hurricane Katrina, not during the recession.

11. Bakersfield, California
Unemployment rate down -2.6% since 2010Q1
Employment up 7.8% since 2009Q4
Gross metro product up 6.6% since 2010Q3
Home prices up 3.3% since 2012Q2

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Salt Lake City

10. Salt Lake City, Utah
Unemployment rate down -2.9% since 2009Q4
Employment up 5.9% since 2009Q4
Gross metro product up 12.6% since 2009Q2
Home prices up 2.6% since 2012Q2

9. Detroit, Michigan
Unemployment rate down -5.2% since 2009Q3
Employment up 5.0% since 2009Q3
Gross metro product up 9.6% since 2009Q3
Home prices up 1.9% since 2012Q2

8. Grand Rapids, Michigan

Unemployment rate down -4.9% since 2009Q4
Employment up 5.9% since 2009Q3
Gross metro product up 12.4% since 2009Q3
Home prices up 1.0% since 2012Q2

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Austin, Texas (eschipul/Flickr)

7. Austin, Texas

Unemployment rate down -1.6% since 2009Q4
Employment up 8.2% since 2009Q4
Gross metro product up 15.8% since 2009Q3
Home prices up 2.6% since 2011Q2

6. Houston, Texas

Unemployment rate down  -1.9% since 2010Q1
Employment up 7.4% since 2009Q4
Gross metro product up 15.3% since 2008Q3
Home prices up 2.9% since 2011Q2

5. Boise City, Idaho
Unemployment rate down -2.2% since 2010Q4
Employment up 3.5% since 2009Q3
Gross metro product up 9.4% since 2009Q2
Home prices up 7.5% since 2011Q2

4. Portland, Oregon

Unemployment rate down -3.2% since 2009Q2
Employment up 4.5% since 2009Q4
Gross metro product up 21.0% since 2009Q2
Home prices up 2.3% since 2012Q2

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Phoenix, Arizona (Wikimedia)

3. Phoenix, Arizona

Unemployment rate down -3.2 since 2010Q1
Employment up 4.5% since 2010Q3
Gross metro product up 8.3% since 2009Q3
Home prices up 10.1% since 2011Q2

2. San Jose/Santa Clara, California

Unemployment rate down -3.4% since 2009Q4
Employment up 7.5% since 2009Q3
Gross metro product up 21.3% since 2009Q3
Home prices up 3.2% since 2012Q1

1. New Orleans, Louisiana

Unemployment rate down -0.7% since 2010Q4
Employment up 19.4% since 2005Q4
Gross metro product up 24.2% since 2005Q4
Home prices up 1.4% since 2011Q2

Data provided by the Brookings' MetroMonitor. Gross Metro Product, Unemployment rate, and Home prices are tracked from Trough to 2012Q3. Employment is tracked from Trough to 2012Q2.

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