Largest Cities That Missed Out on Fed Support Have Underlying Challenges
U.S. cities with populations under 1 million are thus far unable to tap into the $500B COVID muni relief package from the Fed. The analysis below shows how key affluence measures - median household income, Gini index, and stressed renters - play out across cities in this group with 250,000 in population or greater.
The top left cohort are where the potential hot-spots for financial impact are concentrated. Detroit, Cleveland and Cincinnati - each of which have industries in the second wave of unemployment - have higher proportion of stressed renters to go along with income and inequality challenges.