MIAMI (CBSMiami) – Two of the five worst-run cities in America are right here in South Florida.
Miami and Hialeah ranked in the top five in the list, compiled by 24/7 Wall St. and reported in the South Florida Business Journal. The list looks at the local economies, fiscal management and quality of life measures for the 100 largest cities in the U.S.
Miami ranked the second-worst-run city in America. The city has one of the lowest median household incomes at under $29,000 and experienced a 43.5 percent plunge in median home value between 2007 and 2011, according to 24/7 Wall St.
At No. 5 was Hialeah, having also experienced a 44 percent decline in home prices. In addition, the city has the third-lowest median household income at $27,208 and about 40 percent of residents have no health insurance, 24/7 Wall St. reported.
A best run cities in America list was also compiled by 24/7 Wall St.
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