15 Great Cities for Thrifty People

April 13, 2016

Apparently saving accounts are also bigger in Texas. GoBankingRates.com, which ranked the 100 largest U.S. cities from best to worst on seven factors affecting a person’s ability to save, put five Texas towns on their list of the 15 thriftiest places. The research team factored in the median list price of a home, median incomes, monthly rents, and more.

“If you’re looking for an affordable place to live that will leave enough money in your budget to stash in savings, consider the South, Southwest, or Midwest,” says Cameron Huddleston, Life + Money columnist for GOBankingRates. “Most of the best cities for savers are in these regions, where housing costs and everyday expenses are relatively low.”

On the other hand, the top five cities that could make the biggest dent in residents' savings according to the study are all located in California: San Francisco, Los Angeles, Oakland, Calif., Irvine, Calif., and Anaheim, Calif.

15 Best Cities for Saving Money

  1. Gilbert, Ariz.
  2. Plano, Texas
  3. Lubbock, Texas
  4. Kansas City, Mo.
  5. Chandler, Ariz.
  6. Virginia Beach, Va.
  7. San Antonio
  8. Fort Wayne, Ind.
  9. Omaha, Neb.
  10. Tulsa, Okla.
  11. Arlington, Texas
  12. Austin, Texas
  13. Oklahoma City
  14. Colorado Springs, Colo.
  15. Garland, Texas

Source: “Best and Worst Cities for the Thrifty,” BUILDER Online (April 11, 2016)