Lifestyle

According to Recent Study, Texas is the Place to be for Reducing Debt

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The folks at Student Loan Hero have found that there’s more to paying off loans than just being financially responsible. Living somewhere that actually helps you to stretch your dollars is a huge factor. In a survey of 159 such places, they came across two in Texas that ranked in the top five.

Using cost-of-living data, tax, and payroll information, researchers at Student Loan Hero looked at 159 American cities in order to rank the worst and best places to live while you’re trying to pay off debt. Five cities from Texas ranked in the top 20, and Houston, Austin, and San Antonio ranked in the top 10.

It was found that each of the cities that ranked high on the list was able to offer its residents a disposable income of approximately $20,000 as well as an average annual wage which was over $40,000.

Those cities that ranked in the top five allowing people to pay off debt were as follows:

  • Durham, North Carolina
  • Kennewick, Washington
  • Houston, Texas
  • Des Moines, Iowa
  • Austin, Texas

Those ranking in the bottom five of the 159 cities studied were as follows:

  • Anaheim, California
  • New York, New York
  • Honolulu, Hawaii
  • San Francisco, California
  • San Jose, California

To read the full study details and see where other cities ranked, visit the Student Loan Hero website.