GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
it’s possible for you to read more about oureditorial guidelinesand our products and servicesreview methodology.
The primary cause: a falling birth rate.
Economic Decline
As people leave a city, businesses often follow suit.
As demand for housing decreases, so do property prices.
Key Impact:Falling property valuesreduce homeowner equity and can lead to increased vacancies and neighborhood decline.
Key Impact: Deteriorating infrastructure can increase commute times, damage vehicles, and pose safety risks to residents.
Key Impact: Increased social isolation can negatively impact mental health and reduce community cohesion.
Higher Cost of Living
While housing costs might decrease, other living expenses can rise.
Additionally, residents might have to travel farther for work, shopping, and healthcare, increasing transportation costs.
Key Impact: Unexpected increases in utility and transportation costs can strain household budgets.
This can limit the citys influence in securing funding and support for revitalization efforts.
Additionally, shrinking cities often experienceheightened political and social tensionsas residents and leaders grapple with the realities of decline.
For example, the political impact of population decline is significant in cities like St. Louis and New Orleans.
Key Impact:Reduced political cloutand increased social tensions can hinder efforts to address the challenges of population decline.
More From GOBankingRates
Share This Article:
