Different metro areas can affect households' abilities to amass wealth in different ways, according to a new Bankrate.com report.
The report ranked 21 large metro areas in five categories: Savable income, human capital, debt burden, homeownership and access to financial services.
"In some metro areas, like San Francisco, homeownership can be prohibitively expensive, but higher-than-average salaries can help residents stash more money away in tax-advantaged retirement accounts," Bankrate.com analyst Claes Bell said in a statement. "On the other hand, Minneapolis-area residents don't earn as much, but the area's affordable housing and recovering real estate market provide opportunities to build wealth over the long term through home equity."
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Emily Zulz
Emily joined the ThinkAdvisor team as a reporter in the summer of 2014. She previously worked as a reporter for The Daily Journal in Kankakee, Illinois for a year and as a reporter and editor for The Daily Eastern News in Charleston, Illinois for two and a half years. Prior to joining ThinkAdvisor, Emily worked on Groupon’s editorial team in Chicago as a fact checker for three years. She graduated cum laude with a BA in journalism from Eastern Illinois University, and she has been the recipient of two journalism awards for her news reporting at daily newspapers.
