Braddock lost its importance with the collapse of the steel industry in the United States in the 1970s and 1980s. This coincided with the crack cocaine epidemic of the early 1980s, and the combination of the two woes nearly destroyed the community. In 1988, Braddock was designated a financially distressed municipality. The entire water distribution system was rebuilt in 1990-1991 at a cost of $4.7 million, resulting in a fine system where only 5% of piped water is deemed "unaccounted-for.". From its peak in the 1920s, Braddock has since lost 90% of its population.