The 15 US cities where it's easiest to save money
Sean Pavone/Shutterstock
That's according to GoBankingRates' latest study, which gathered data for the 60 largest US cities to determine where it's easiest to save money, or the places where the average person has money left over after covering expenses.
For its ranking, GoBankingRates considered seven factors indicative of financial well-being:
- Median household income: in 2015 dollars according to U.S. Census QuickFacts.
- Unemployment rate: according to the Bureau of Labor Statistics' February 2017 data on unemployment rates for metro areas.
- Median home list price: according to Zillow data from March 2017.
- Median rent price: according to Zillow data from March 2017.
- Average gas price: average reported gas prices from GasBuddy as of April 21, 2017.
- Average monthly cost of groceries: grocery costs based on recommended minimum amount of food per person from Numbeo data on April 21, 2017.
- Sales tax: according to TaxFoundation.org 2016 data.
All seven metrics were weighted equally by GOBankingRates and given a score between 0 and 1, then added together for a total score indicating final rank. The list includes multiple cities in both Arizona and Texas, as well as a few in the Midwest, and one increasingly desirable city out West.
Below, check out the full list of the 15 best cities to save money.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh