A recession may be looming in America’s near future, and you don’t have to take our word for it based on numerous recent headlines as the stock market is down and inflation is (way) up. This raises a timely question: Is anywhere safe from the effects of a recession?
While a recession certainly affects the whole country, it turns out that some cities can weather a national economic crisis much better than others. In recent research, SmartAsset evaluated our nation’s most resilient economies by looking at 14 metrics across several categories: employment, housing, social assistance & healthcare, as well as economic stability. They evaluated the 300 largest cities in the U.S. and named some of our favorite midsize cities as their most resilient. If you don’t like the way this economy is headed, here are five great cities that, according to SmartAsset’s research, might be able to offer some comfort. See: The best affordable little cities to live in America1. Cary, N.C.
Low unemployment rates are almost as important to a city’s affordability as cheap housing costs. (You need an income to pay for that mortgage.) Cary came in 10th for employment in Smart Asset’s research, and housing costs here make up 16.28% of the median household income. The city also provides plenty of ways to cut costs, such as multiple public transit options and numerous parks and nature preserves for free entertainment. Be sure to read: The fastest-growing American cities are also some of the places with the worst climate-change effects2. Frisco, Texas
There is never a shortage of things to do in the Dallas suburb of Frisco. The city has been described as a “shopper’s paradise” because of its 9 million square feet of retail and dining. It could also be described as a sports lovers’ paradise, as it’s home to FC Dallas of major-league soccer, the A.A. affiliate of MLB’s Texas Rangers, an NBA D-League team, and the practice facility of the NHL’s Dallas Stars. The Frisco Superdrome, a 250-meter banked-oval track, hosts a variety of cycling races. With all its places to work and play, it is no wonder unemployment in Frisco is low and healthcare access and outcomes are exc …