A group of midwestern cities, including Des Moines, Iowa, Madison, Wisconsin, and Minneapolis, rank among the most “financially responsible” in the nation, according to a new report.
Minneapolis has a strikingly low share of consumers with maxed-out credit cards. Madisonians use an admirably low quotient of their available credit. Des Moines residents don’t spend too much of their income on housing.
LendingTree, the personal finance site, ranked the 100 largest metropolitan areas on five metrics of financial health, focusing on the ideal of living within one’s means. The July 7 report draws from Federal Reserve and Census data, and from a sample of 260,000 anonymized LendingTree users.
Here are the 10 most ‘financially responsible’ cities
According to LendingTree, these are the 10 most financially responsible cities in America:
- Des Moines
- (tie) San Jose, California
- Madison
- Minneapolis
- Pittsburgh
- Durham, North Carolina
- Grand Rapids, Michigan
- (tie) Harrisburg, Pennsylvania
- Syracuse, New York
- Akron, Ohio
Several other midwestern cities rank in LendingTree’s top 20 for financial responsibility, including Kansas City, Missouri (13), Cincinnati (14), Columbus, Ohio (18) and St. Louis (20). Other financially healthy metros include Knoxville, Tennessee (12th on the list), in the South, and Rochester, New York (16), in the Northeast…