February 18, 2025
Here’s the hardest city to save money in

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Looking to save money? You might want to think about moving to a less expensive city.

Forbes Advisor has ranked the best and worst places to live if you’re trying to build up your bank account. The analysis ranked all 50 states and the 15 largest metro areas across 10 metrics spanning four key categories: income and debt, cost of living, taxes and housing.

Worst on the list is the Riverside-San Bernardino-Ontario metro, where the average household spends nearly 25% of their income on housing. This region in California has the highest debt-to-income ratio and the third-highest percentage of households recently reporting difficulty paying usual household expenses (40%), according to the analysis.

Rounding out the top five expensive metro areas are Los Angeles, Miami-Fort Lauderdale, New York and Atlanta.

Metros Where It’s More Difficult To Save Money
1. Riverside-San Bernardino-Ontario, CA
2. Los Angeles-Long Beach-Anaheim, CA
3. Miami-Fort Lauderdale-Pompano Beach, FL
4. New York-Newark-Jersey City, NY-NJ-PA
5. Atlanta-Sandy Springs-Alpharetta, GA
6. San Francisco-Oakland-Berkeley, CA
7. Boston-Cambridge-Newton, MA-NH
8. Phoenix-Mesa-Chandler, AZ
9. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
10. Houston-The Woodlands-Sugar Land, TX
11. Seattle-Tacoma-Bellevue, WA
12. Dallas-Fort Worth-Arlington, TX
13. Washington-Arlington-Alexandria, DC-VA-MD-WV
14. Chicago-Naperville-Elgin, IL-IN-WI
15. Detroit-Warren-Dearborn, MI

Seeing as it’s home to three of the metro areas on the list, it should come as no surprise that California tops all states for being the most difficult to save money. It has the fourth-highest cost of living index in the nation, and  ranks second highest for the percentage of renters who spend at least half of their income on rent (28%). On top of housing costs, Californians struggle with other everyday bills. A Census Bureau survey cited by the ranking shows 34% of California households find it somewhat or very difficult to cover typical weekly expenses.

Rounding out the most difficult states for saving money are Hawaii (also the most expensive state to live in), Nevada, Oregon and Maryland.

On the other hand, eight of the top 10 states where it is easiest to save are in the Midwest.

North Dakota ranks as the easiest state to save money. It boasts the third-lowest debt-to-income ratio in the country and has some of the most affordable housing rates, with residents spending the lowest percentage of their income on housing costs (14.39%) compared to other states.

South Dakota, Kansas, Missouri and Iowa finish out the top five easiest states for saving money.

Most (and Least) Difficult States To Save Money
1. California
2. Hawaii
3. Nevada
4. Oregon
5. Maryland
6. Florida
7. New York
8. South Carolina
9. Colorado
10. Louisiana
11. Connecticut
12. New Jersey
13. Arizona
14. Massachusetts
15. Rhode Island
16. Virginia
17. Texas
18. Washington
19. New Mexico
20. Utah
21. Vermont
22. Georgia
23. Idaho
24. Delaware
25. New Hampshire
26. Maine
27. Alaska
28. Michigan
29. Alabama
30. Minnesota
31. Tennessee
32. Mississippi
33. Pennsylvania
34. North Carolina
35. Oklahoma
36. Kentucky
37. Montana
38. Indiana
39. Arkansas
40. Illinois
41. Ohio
42. Wyoming
43. West Virginia
44. Nebraska
45. Wisconsin
46. Iowa
47. Missouri
48. Kansas
49. South Dakota
50. North Dakota

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