1. Castle Rock, Colorado: The Fortress of Financial Stability
Castle Rock, Colorado, emerges as the top city poised to withstand a recession, according to a SmartAsset study.
Less than 1% of households in Castle Rock rely on social assistance, and nearly 96% of residents have health insurance coverage, underscoring its robust financial health. Its proximity to Denver, just 45 minutes away, adds to its appeal.
This combination of factors makes Castle Rock a haven for those seeking stability during economic uncertainty.
2. Highlands Ranch, Colorado: A Suburban Sanctuary of Prosperity
Highlands Ranch, another Colorado city, secures the second position in the rankings. As a Denver suburb, it boasts the lowest percentage of impoverished residents in the SmartAsset study.
Around 4% of residents lack health insurance. A 30-minute drive from Castle Rock, Highlands Ranch offers a secure environment, minimizing the impact of economic downturns on its residents.
3. Overland Park, Kansas: A Heartland Haven of Economic Resilience
Overland Park, Kansas, distinguishes itself with strong performance in housing, social assistance, and economic stability categories.
The city has 72% of residents participating in the labor force and a low percentage below the poverty line.
Overland Park provides a stable environment, ensuring its residents can navigate challenging economic times with greater ease.
4. Kirkland, Washington: An Economic Powerhouse on the Puget Sound
Kirkland, Washington, a Seattle suburb, excels in economic stability, ranking second-highest in this category.
The city’s three-year GDP growth rate of 5.8% is the 16th-highest in the study. This economic strength ensures Kirkland remains resilient, offering a buffer against the adverse effects of a recession for its residents.
5. San Mateo, California: An Economically Stable Urban Hub
San Mateo, California, located 20 miles south of San Francisco, rounds out the top five. Approximately 6% of San Mateo residents live below the poverty level, and 2% of households rely on social assistance.
The city’s low mortgage delinquency rate contributes to its economically stable status. San Mateo offers a secure environment for its residents during economic instability.
6. Mountain View, California: A Health-Insured Haven in Silicon Valley
Mountain View stands out with an impressive 98% of its residents having health insurance, the highest in the study.
Located in Silicon Valley, the city benefits from a high labor force participation rate and a low mortgage delinquency rate.
This combination of factors ensures that Mountain View residents are well-protected from the impacts of a recession.
7. Sandy, Utah: A Secure Suburban City Near Salt Lake
Sandy, Utah, near Salt Lake City, is a safe haven for riding out a recession. Only 1.7% of households receive public assistance.
Sandy has a low unemployment rate of 2.5%, and less than 8% of residents report food or housing insecurity.
With its stable economy and secure environment, Sandy provides a buffer against the economic challenges of a recession.
8. Olathe, Kansas: A Suburban Stronghold of Employment and Stability
Olathe, Kansas, earns its place in the top ten due to its low unemployment and mortgage delinquency rates.
Nearly 72% of its population participates in the labor force. With its dense suburban feel and numerous parks, Olathe offers a stable and secure environment for residents to weather economic downturns.
9. Bellevue, Washington: A Scenic and Stable City by the Lake
Bellevue, Washington, located across Lake Washington from Seattle, is a scenic and stable place to weather a recession.
The city scores high in economic stability and housing, with less than 8% of residents below the poverty level.
Just over 65% of its residents contribute to the labor force. Bellevue provides a secure and thriving environment for its residents during economic challenges.
10. Layton, Utah: A Thriving Labor Force in a Secure City
Layton, Utah, is the state’s single largest employer. Nearly 73% of its population participates in the labor force, and less than 8% live in poverty.
A few households rely on social assistance, and about 90% of the population has health insurance. Layton’s strong labor force and low poverty rate make it an ideal location to withstand a recession.
Alicia Richards