In Colorado, the residents of Highlands Ranch are tops for money management, according to a new WalletHub report that analyzes financial literacy in cities across the country.
To compile the report, WalletHub compared 2,534 U.S. cities based on 10 key metrics across two categories:
- Debt level, which included credit card debt-to-income ratio, mortgage debt-to-income ratio, car loan debt-to-income ratio, student loan debt-to-income ratio and the average percentage of credit uses.
- Financial behavior, which included median credit score, average number of late payments, share of adults who are delinquent on their debts, share of adults with a bankruptcy filing in the past 12 months and the foreclosure rate.
With a median credit score of 756, Highlands Ranch ranks first in the state and 295th nationally for its residents' money management skills.