Sioux Falls named among most recession-proof cities

March 18, 2020

If the financial turmoil caused by the COVID-19 pandemic leads the country into a recession, this study finds Sioux Falls is better positioned than most places.

An analysis by personal finance company SmartAsset examined 264 U.S. cities to determine which places are the most recession-resistant by comparing three main factors: employment, housing and social assistance.

  • Employment: This category compared the unemployment rate in 2018, change in the unemployment rate during the Great Recession — from 2007-10 — and the labor force participation rate in 2018.
  • Housing: SmartAsset compared cities based on housing costs as a percentage of income, change in median home value during the Great Recession and the 2018 mortgage delinquency rate.
  • Social assistance: This includes the percentage of the population relying on public assistance in 2018, the average annual amount of assistance per household and state rainy-day funds as a percentage of state expenditures.

Sioux Falls ranked as the No. 10 most recession-resistant city.

For the ranking, the site used data from the U.S. Census Bureau’s 2018, 2010 and 2007 1-year American Community Surveys, the Consumer Financial Protection Bureau and The Pew Charitable Trusts’ Fiscal 50: State Trends and Analysis report.

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Sioux Falls named among most recession-proof cities

If the financial turmoil caused by the COVID-19 pandemic leads the country into a recession, this study finds Sioux Falls is better positioned than most places.

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