by German Lopez
Posted In: News
at 10:58 AM | Permalink
Report finds Cincinnati strong on housing opportunities and job growth, weak on migration
A new report has some sobering notes for Cincinnatians.
Overall, the city ranked No. 10 out of 12 similar cities in the report’s
rankings, with the city doing well in housing opportunities and job growth but not so well in
other categories. The No. 10 spot is the same rank Cincinnati held in
the 2010 report.
The report, which was put together by Agenda 360 and
Vision 2015, compares Cincinnati to other cities in a series of economic
indicators. The cities compared were Cincinnati; Austin, Texas;
Charlotte, N.C.; Cleveland; Columbus; Denver; Indianapolis, Ind.;
Minneapolis, Minn.; Pittsburgh; Raleigh, N.C.; and St. Louis.
First, the good news: Cincinnati has an unemployment rate
lower than the national average, at 7.2 percent. As far as job growth,
total jobs, per-person income and average annual wage goes, Cincinnati
ranked No. 6. Cincinnati was also No. 5 in poverty ranks — meaning the
city had the fifth least people below 200 percent of the federal poverty
level among the 12 cities measured. For the most part, Cincinnati moved up in these ranks since 2010. When it comes
to housing opportunities, Cincinnati claimed the No. 2 spot, only losing to
Indianapolis. That was a bump up from the No. 3 spot in 2010.
The bad news: Cincinnati didn’t do well in almost
every other category. In terms of educational attainment — meaning the
percent of the population 25 years or older who have a bachelor’s
degree or higher — Cincinnati was No. 9, with 29.3 percent having a bachelor's degree or higher in 2010. That was a slight improvement from the No. 10 rank in the previous report, which found 28.5 percent had a bachelor's degree or higher in 2009.
Cincinnati did poorly in net migration as well. The city was
No. 10 in that category, only beating out St. Louis and Cleveland. The
silver lining is the city actually gained 1,861 people in 2009 — an
improvement from losing 1,526 people in 2008.
Cincinnati also seems to have an age problem. The city
tied with Pittsburgh for the No. 10 spot with only 60.2 percent of the 2011 population made up of people between the ages of 20 and 64. The report also says the
city has too many old people, an age group that tends to work less, provide less tax revenue and use more government and health services. Cincinnati ranked No. 8 in terms of “Old Age
Dependency,” with 20.4 percent of the city made up of people aged 65 and
older in 2011.
However, the report does have a positive note through all
the numbers: “In fact, our current pace of growth, especially in the
people indicators, exceeds many of our competitors and if this pace
continues, our rank could be much improved by our next report.”