Bridgeport ranks nearly mid-pack out of 100 U.S. cities for its residents’ debt and savings levels, according to MensHealth.com.
Bridgeport ranked No. 58 — a “C” grade — for the financial stability of its citizens, the monthly male health-fitness magazine reported Thursday on its Web site.
No other Connecticut municipality made the ranking. But Boston, at No. 8, earned an “A.”
MensHealth.com says tabulations for its list of best and worst cities for debt in America were based on personal bankruptcy rates (Federal Deposit Insurance Corp.); average credit scores, debt, late payments, and credit usage (Experian); percentage of homes facing foreclosure (RealtyTrac); percentage of homeowners and renters who spend more than 30 percent of their income on housing (U.S. Census); and average 401(k) contributions (BrightScope).
Based on the data, the magazine listed the 10 cities with the most debt-laden residents that drew “F” grades, in descending order: Las Vegas; Riverside, Calif.; Phoenix; Stockton, Calif.; Orlando, Fla.; Bakersfield, Calif.; Miami, Fla.; Fresno, Calif.; Santa Ana, Calif.; and Reno, Nev.
The top 10 with the most financially stable citizenry – earning an “A” in descending order: Lincoln, Neb.; Madison, Wis.; Sioux Falls, S.D.; Des Moines, Iowa; Billings, Mont.; Omaha, Neb.; Boston; Fargo, N.D.; and Pittsburgh.
