Cambridge Ranked Fourth Wealthiest City in Northeast

CAMBRIDGE, MA - A recent study examined the wealth of more than 400 cities in America, and in the northeast, Cambridge was in the top 10.

According to a list released by the website NerdWallet, Cambridge is the fourth wealthiest city in the region.

The site analyzed the median household income and percent of homes without a mortgage, the monthly median home value and the average credit limit for card holders in 475 U.S. cities with more than 65,000 residents.

NerdWallet reported that the average credit limit in Cambridge is $39,997, the median household income is $84,249 and the median home value is $649,000. Thirty-two percent of homes in Cambridge are without mortgages, according to the site.