5. Champaign-Urbana, Illinois
> 2010 Inflation: 3.89%
> Population: 234,445 (up 4.57%)
> 2010 Median income: $45,845 (up 9.7%)
> 2010 Unemployment: 7.8% (down 12.4%)
> 2010 Home vacancy: 10.4% (up 16%)
This metropolitan area is home to the University of Illinois at Urbana-Champaign — its largest employer. It also has a significant number of tech companies. Between 2009 and 2010 the population increased by almost 5%. Median income increased nearly 10%. The unemployment rate fell from 9% to 7.8%.
4. Springfield, Illinois
> 2010 Inflation: 3.97%
> Population: 210,390 (up 1.26%)
> 2010 Median income: $50,423 (down 4.2%)
> 2010 Unemployment: 7.0% (down 13.6%)
> 2010 Home vacancy: 7.6% (down 16%)
Springfield is the capital of Illinois, making the Illinois state government the city’s largest employer. Other major employers are in the health care sector. Between 2009 and 2010, the metropolitan area’s population has increased 1.26%. Over the same period, the unemployment rate decreased from 8.1% to 7.0%
3. Davenport,-Moline-Rock Island, IA-IL
> 2010 Inflation: 4.00%
> Population: 382,382 (up 0.47%)
> 2010 Median income: $46,310 (down 8.2%)
> 2010 Unemployment: 7.8% (down 13.3%)
> 2010 Home vacancy: 7.4% (up 6%)
Davenport, Moline, and Rock Island make up the better part of the Quad Cities. The area’s economy is largely driven by the manufacturing sector. One of the largest employers is tractor and heavy equipment maker John Deere, which is located in Moline. The metro area’s population increased only slightly between 2009 and 2010, and the unemployment rate fell from 9.0% to 7.8%.
2. Fairbanks, Alaska
> 2010 Inflation: 5.13%
> Population: 98,314 (down 0.35%)
> 2010 Median income: $60,785 (down 13.9%)
> 2010 Unemployment: 7.1% (down 4.1%)
> 2010 Home vacancy: 10.5% (down 42%)
Fairbanks is among the fastest growing cities in the country. It has an exceptionally low unemployment rate and large employer base. The city features two U.S. military installations, Fort Wainwright and Eielson Air Force Base, as well as the University of Alaska. From 1990 to 2009, the metropolitan area, which now has a population of just over 98,000, added 16,000 residents. From 2009 to 2010, home vacancy decreased a tremendous 42%.
1. Cumberland, Maryland-West Virginia
> 2010 Inflation: 5.3%
> Population: 103,239 (up 3.51%)
> 2010 Median income: $34,847 (down 3.9%)
> 2010 Unemployment: 8.7% (down 1.1%)
> 2010 Home vacancy: 13.6% (down 3%)
Although Cumberland has one of the lowest median incomes in the country, it has experienced significant growth in recent years. Between 2009 and 2010, the metro area’s population has increased by approximately 3.5%. Over this same period, both home vacancy and unemployment decreased.
Charles Stockdale, Michael Sauter, and Douglas A. McIntyre
