This Tampa Bay City Is One Of The Fastest Declining Cities in Florida
Cities are always evolving and changing based upon many different factors. If you live in Tampa Bay you’ve experienced first hand how the growth of the city can impact everyone living there. From traffic to housing prices, the fast growth of a city can negatively impact the people living there. The past few years have been a whirlwind of crazy growing pains for the people of Tampa Bay, but according to a recent analysis, one Tampa Bay city is one of the fastest declining cities in Florida.
In a recent analysis done by FinanceBuzz, St. Petersburg is one of the top 3 of the fastest declining cities in the state of Florida. They tracked the growth and decline of the cities by examining a three year period. Finance Buzz started with 2019 and ended with the full year of 2022. For 2019, every U.S. city with a population greater than 200,000 people was included. There were 117 total cities included.
They tracked information like new home construction, new businesses, home value increase compared to peer cities, population change, unemployment rate change and more.
Fastest Declining Cities in Florida:
1. Hialeah: This city was the fastest declining city in the Sunshine State with a decline rate of -5.59%. The overall decline score was 45.9. Some key factors that went into this was the 1% increase in unemployment, 6.9% growth rate for home values, and 27% of residents with debt collections out.
2. St Petersburg: This city was the second fastest declining city in the state of Florida with a decline rate of -1.54%. The overall score for St. Petersburg was 45.2 and wasn’t far off from Hialeah.
3. Jacksonville: This city actually saw a positive population change of 6.56%. The overall score for Jacksonville is 44.6 and saw a -0.60 change in unemployment and -0.2% change in per capita income.
If you want to checkout the full analysis and dive deeper into the fastest growing and declining cities in Florida, click here.