Frisco, McKinney are among most recession-proof cities, study finds
The data from SmartAsset comes on the heels of the latest U.S. inflation figures.
In light of last week’s inflation report revealing prices in September rose faster than expected, recent data shows some cities are better equipped to handle a recession than others.
Frisco and McKinney are two of those cities, ranking among the 20 most resilient economies in the nation, according to data from SmartAsset, a financial technology company.
The company used 14 metrics to crunch numbers across four categories: employment, housing, social assistance and healthcare, and economic stability.
SmartAsset analyzed the 300 largest cities, of which 286 had available data and found Frisco is second in the nation for the most resilient economy, just behind Cary, N. C.
Frisco has the third-highest score for housing, fifth-best score for employment and 13th-best rating for social assistance and healthcare, according to the report. The city ranks first overall for 10-year housing unit growth (76.58%) and 10th-best for housing costs as a percentage of income (18.57%).
McKinney ranked No. 16 on the list, which only has two other Texas cities in the top 20 — Pearland at No. 7 and Denton at No. 20. McKinney ranked 100 in the Employment Strength category, one of the strongest on the list.
Dallas-Fort Worth inflation remained above the U.S. average in September as higher utilities, rent and food prices pushed local inflation up 9.2% from a year ago.
Susan McFarland, Special Contributor. Susan McFarland is a longtime journalist in DFW who previously worked as a city government/crime beat reporter for the Fort Worth Star-Telegram and a breaking news reporter for United Press International. She has also worked for The Corpus Christi Caller-Times and The Kerrville Daily Times. Susan covers Frisco, Allen and McKinney for DMN Local.firstname.lastname@example.org @1susanmcfarland