Congratulations, Miami-Dade! You're home to two of the five worst-run cities in the country.
The rankings come from 247WallSt.com which used a number of factors to determine the list. Gross metropolitan product, public debt, unemployment rates, violent crime, poverty, home prices, the number of insured people, graduation rates, credit ratings and foreclosures were all considered.
So maybe it's not much of a surprise Miami came in as the second worst run city, while Hialeah was the fifth. Though, it's a slight improvement from last year when Miami took the number one spot.
Here's the site's data on 5th ranked Hialeah:
5. Hialeah, Fla.And here's the take on second place Miami:
> Population: 229,967
> Credit rating: not rated
> Violent crime per 1,000 people: 3.78 (18th lowest)
> Unemployment rate: 14.1% (tied- 9th highest)
Home prices between 2007 and 2011 fell by 44% in Hialeah, the 10th-highest decline of all 100 largest cities. The median household income of $27,208 in 2011 was the third-lowest of all major cities, after declining by 44% during the recession. Of workers residing in Hialeah, 15.5% worked in the generally low-paying retail trade, the highest percentage of all of the 100 largest cities. As a result of industry composition, nearly 40% of city residents are without health insurance, higher than any other large city in the U.S.
2. Miami, Fla.
> Population: 408,760
> Credit rating: A2, negative outlook
> Violent crime per 1,000 people: 11.98 (12th highest)
> Unemployment rate: 12.4% (17th highest)
Between 2007 and 2011, the median home value in Miami fell by 43.5%. Additionally, the city had one of the nation's lowest median household incomes, at under $29,000, while 31% of residents lived below the poverty line -- nearly twice the U.S. rate of 15.9%. Despite the difficult economic conditions Miamians faced, the city joined with Miami-Dade County to pay for almost 80% of the more-than $600 million cost of building a new baseball stadium for the Miami Marlins. The deal has caused significant uproar. While taxpayers pay extremely high costs to service the stadium debt, the team has traded many of its top players. In 2011, the SEC launched an investigation into the agreement.
San Bernardino, California, beat out Miami for the top (or bottom, depending on how you look at it) spot. Detroit and Stockton, California, rounded out the top five. Orlando also came in 10th.
If you want to move to the best run city in America, start packing your bags for Plano, Texas.
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