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24/7 Wall St: Worst-Run Cities in America

9. North Las Vegas, Nev.

Violent crime per 1,000 people: 8.93 (28th highest)
Poverty rate: 18.0% (35th lowest)
Adult population graduated from high school: 76.8% (15th lowest)
Credit rating: A2 (negative outlook)
Population: 217,304

The housing market of North Las Vegas plunged 50.9% from 2007 to 2010. In 2010, one in every five homes in the city was foreclosed upon, according to RealtyTrac. On top of it all, the North Las Vegas Housing Authority misspent public money for years meant to help needy residents. It appears that the soft housing market will continue to hurt city coffers. One of its major revenue sources — property taxes — is expected to fall by over a fifth in 2011 in the county. To reduce spending, the city cut or froze more than 800 positions in recent years. The city has a credit rating of A2 from Moody’s, which the agency attributes to its “continued economic weakness and persistent financial challenges,” as well as “the city’s structurally imbalanced operations and reliance on financial reserves” used to support government operations.

(iStock Photo)

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The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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