Fort Worth is a top city for ‘Wallet Wellness’
04/03/2014 9:54 AM
04/03/2014 9:55 AM
Fort Worth is a top 10 city for financial health and Arlington is right behind it, according to WalletHub’s new ranking of the best places for “Wallet Wellness.”
Giving Cowtown a decided boost to its No. 9 ranking was its recent selection by the personal finance social network as the No. 1 city to find a job. Arlington was No. 4 and Dallas was No. 5 in the jobs survey.
For the financial health survey, WalletHub compared the 150 largest cities in the United States using eight metrics measuring how consumers manage both their finances and lifestyles. It also calculated how local dynamics promote wealth creation and upward mobility.
Also helping the personal balance sheets in North Texas was Fort Worth’s No. 6 ranking for affordable housing. Arlington was No. 9 and Dallas was No. 50.
That also played into the Fort Worth and Arlington rankings as the No. 21 and No. 34 places respectively for household incomes adjusted for the cost of living. Plano topped the survey in this index.
Overall, Corpus Christi at No. 4 was the highest-ranked Texas city for financial health. Arlington came in at No. 11 and Amarillo also cracked the top 20 at No. 18.
Austin, which routinely tops best city rankings for jobs, didn’t fare as well, coming in at No. 69. Houston was No. 36 and Plano at 40. Dallas was the lowest-ranked Texas city at 78.
The three cities in the Metroplex were tied for No. 124 for average credit score.
They also didn’t fare very well when it comes to the “health wellness” categories. The three cities were tied at No. 62 in the well-being index.
Also driving up local stress levels are long commute times. Dallas had the best score at No. 100 followed by Arlington at No. 105 and Fort Worth at No. 108. Lubbock, with an average commute of just over 15 minutes, was No. 1 in this index.
Sioux Falls, S.D., topped the nation overall in wallet health. It was also No. 1 in the well-being index and No. 5 in average credit scores.
At the bottom of the financial health rankings were No. 148 Jackson, Miss., No. 149 Baton Rouge, La., and No. 150 New Orleans.
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