Analysts at SmartAsset ranked U.S. metro areas based on how well residents are taking control of their personal finances. They looked at the percent change in credit scores, credit card debt, credit utilization ratio, late credit card payment rate, non-mortgage debt and mortgage delinquency rate to make their conclusions.
SmartAsset found that 10 of the top 15 cities where personal finances have improved are in California. Los Angeles, which topped the list, saw a 2.1 percent increase in credit scores between 2010 and 2016. Other cities in the top 10 are Las Vegas, Phoenix, and the Miami metro area.
Five of the cities that ranked lowest in the study are in Louisiana, where non-mortgage debt is up 15-20 percent from 2010.
Advertisement
Related Stories
Market Data + Trends
Vacation and Investment Home Market Insights
A recent report finds beach homes to be the most sought-after vacation-home type and that the investment potential of a second home is an important factor in the purchasing decision
Affordability
How Much Income Do First-Time Buyers Need to Afford the Average Home?
The median-priced home is unaffordable in 44 of the 50 largest U.S. metro areas
Affordability
What Is the Relationship Between Urban vs. Suburban Development and Affordability?
A new paper from Harvard's Joint Center looks at whether expanding the supply of suburban housing could, in turn, help make dense urban areas more affordable