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Economy and Business


More college educated people live in downtown Cleveland and Akron
But Fed researchers say Northeast Ohio still lags the rest of the country
by WKSU's MARK URYCKI


Senior Reporter
Mark Urycki
 
Senior Fed analyst Kyle Fee says downtowns increasingly are a draw for college grads.
Courtesy of Federal Reserve Bank
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In The Region:

A new study by the Federal Reserve Bank of Cleveland finds that the education level is rising for people who live in the city's central business district. Senior analyst Kyle Fee says it’s been happening over the past decade in the top 100 Metropolitan Statistical Areas – or MSA’s.

 

lISTEN: An extended interview with senior analyst Kyle Fee

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"This has been a trend considerably more in other places like Chicago, Atlanta, Seattle. Cleveland is one of those areas where this trend is kind of slow to take off. You're seeing it in some areas but it's not as wide spread as other MSA's."

In 1980, only 6.6 percent of the people living in downtown Cleveland had college degrees and the city ranked last in the top 100. That number in 2010 rose to 19 percent but Cleveland still ranks only 89th.  Akron ranks 68th. Fee says more educated people are living in downtown areas because of the cultural amenities offered there.

 

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