Cities With the Greatest Incidence of Coronavirus -as of May 27, 2020

Last week, 24/7 Wall Street analyzed the greatest incidence of Coronavirus by state. This follow-up study takes the next step in data resolution by reviewing the incidence of Coronavirus by Metropolitan Statistical Area (MSA). Researchers examined nearly 400 metros to identify the 50 cities with the most confirmed Coronavirus cases as of May 27, 2020—adjusted for population (per 100,000 people)—allowing for an apples-to-apples statistical comparison.

Just because a state had a high level of Coronavirus infection rates does not necessarily mean all metros in that state were affected equally. Infection of the virus is local in nature and not necessarily statewide. For example, Texas—the second-most populous state in the U.S.—had just one city in the top 50: Amarillo. Once again, the TINSTAANREM axiom is invoked — There Is No Such Thing As A National Real Estate Market or Economy. The same is true regarding the occurrence of Coronavirus infection rates across the country.

The following table shows the 10 MSAs with the most confirmed Coronavirus cases per 100,000 people as of May 27, 2020. Also included is the population density per square mile. Clearly, a high population density is not a prerequisite for inclusion in the list of metros with the greatest number of Coronavirus cases per 100,000 people. The New York–Newark–Jersey City MSA has 64 times greater population density than Pine Bluff, Arkansas, which ranked second and seventh, respectively, in the highest number of Coronavirus cases per 100,000 people.

The next table shows the metros with the greatest average number of new cases per day in the seven days ending May 27, 2020.

The greatest number of Coronavirus-related deaths through May 27, 2020 are shown in the next table. All but two of the MSAs were located east of the Mississippi River, the exceptions being Farmington, New Mexico, and New Orleans–Metairie, Louisiana.

Data for all 50 metros making the list of those with the most confirmed Coronavirus cases per 100,000 population as of May 27, 2020, are shown in the final table below, sorted alphabetically by MSA.

To read the entire study, visit 24/7 Wall Street: Cities with the Highest Number of COVID-19 Cases.

Market Update Insight

Good news this morning in the daily NYSE Morning Update to traded companies included the following statement, with emphasis on the underlined segment:

“White House health advisor Dr. Anthony Fauci said he worries about the ‘durability’ of a potential coronavirus vaccine, saying there’s a chance it may not provide long-term immunity. In more positive news, he also says the U.S. should have 100 million doses of one Covid-19 vaccine by year’s end. Biotech firm Moderna’s first viable vaccine candidate should go into the final stage of trials by mid-summer. Probably the most interesting coronavirus tidbit: it has been reported that Wuhan city has found no new cases of people suffering from COVID-19 after testing almost its entire population, with 300 asymptomatic carriers of the virus.”

I have no doubt that we will overcome this—but uncertainty remains as to how and when. That uncertainty translates into ongoing risk.

The good news, thus far, is that the states that began reopening their economies first have not seen a statewide second wave of Coronavirus infections—at least not one measurable in the average number of new infections per day for the seven days ending May 27, 2020. Time will tell, though.

Ted