A new study has estimated that it will cost over $1 trillion to repair crumbling infrastructure across 2,000 US cities. The research, conducted by municipal analyst Richard Ciccarone, puts the figure at $1.03 trillion to fix deteriorating roads, bridges and buildings.
The study found that older cities such as Philadelphia, Baltimore and Milwaukee face the biggest financial burdens. A key factor is a 2014 accounting rule change that forced cities to treat pensions as liabilities, adding hundreds of millions of dollars in debt to their balance sheets. This has led to tax rises, service cuts and lower municipal bond prices.
Municipal bonds are typically used to fund large infrastructure projects without raising taxes. However, many cities have deferred repairs to balance budgets, prioritising pension and debt payments. Ciccarone warned that delaying maintenance often makes the eventual cost higher.
Philadelphia plans to spend $1.5 billion over six years on infrastructure, with an additional $20 billion expected from state and federal sources. Baltimore is implementing a ten-year spending plan that includes significant repairs. The study used data on the age and expected lifespan of structures from 2,000 cities, calculating depreciation and inflation to reach the $1.03 trillion figure.
America's infrastructure received a C grade in the American Society of Civil Engineers' 2025 report, an improvement from C-minus in 2021. The ASCE attributed the rise to repairs funded under the Biden administration but stressed the need for continued long-term investment.
