These 3 Cities Have The Most People In Financial Distress, Study Finds
Don't move to one of these cities if you care about the state of your wallet.
kudla | Shutterstock Over the last few years, millions of Americans have felt the consequences of economic instability. The cost of living is nearly impossible for many to keep up with and inflation certainly doesn't help. The American Psychological Association's annual Stress in America survey found that money is a significant stressor for 64% of Americans.
Yet, according to a study conducted by WalletHub, residents of three specific cities are in more financial distress than those who live anywhere else in the country. So, if you're considering relocating to one of these cities, you might want to think again!
A recent study found that these 3 cities have the most people in financial distress:
1. Houston, Texas
Houston — the most populated city in Texas and fourth most populated in the country — is home to the most people in financial distress in all of the U.S. The state as a whole seems to be struggling, and last year, WalletHub declared the entire state of Texas the number one state in financial distress.
This is likely due in part to the many natural disasters Houston and Texas residents have faced as of late, from derechos and winter storms to extreme heat and hurricanes. With these have also come higher insurance costs, putting even more strain on people's wallets.
In fact, over half of Houston-metro-region residents say that they have considered moving out of the area over the past few years, with many citing extreme weather as a reason.
2. Atlanta, Georgia
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Second on the list, Atlanta residents are also in great financial distress. Google search activity shows that people living in Atlanta frequently search for terms like “debts” and “loans,” indicating a high need for borrowing.
Finding affordable housing is particularly difficult in this city. Fox 5 Atlanta reported high rent prices, stagnant wages, limited housing availability, and high application fees among the reasons why.
It's not just Atlanta, though. In 2024, 41.7% of Georgia adults reported difficulties paying their everyday expenses, compared to 37% of American adults overall.
3. Jacksonville, Florida
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Sixteen percent of Jacksonville residents have credit accounts in distress, the highest percentage in the nation. This city also takes the cake for the highest number of distressed accounts per person.
Many more Jacksonville residents deferred payments last year than the year prior, marking a nearly 87% increase — the largest jump in all of the country.
Like Atlanta, housing costs are a major concern for Florida residents, as is homeowners' insurance. A recent University of North Florida study found that housing is a top concern for 34% of Florida voters, whereas, in 2022, only 2% were concerned.
If you're considering a move to one of these three cities, you might want to go back to the drawing board. The same survey found that Anchorage, Alaska, Fort Wayne, Indiana, and Scottsdale, Arizona are among the places with the least financial angst — maybe start there.
Megan Quinn is a staff writer with a bachelor's degree in English and a minor in Creative Writing. She covers news and lifestyle topics that focus on justice in the workplace, personal relationships, parenting debates, and the human experience.