Lexington Residents Among America's Best Money Managers

LEXINGTON, MA—Managing one’s funds is one of the great struggles of the modern human condition, but Lexington residents have seemingly mastered that struggle better than the rest of the country.

According to a recent study by WalletHub, Lexington residents are among some of the best in the country at managing their finances. Lexington residents rank fifth among American communities based on credit scores; the debt-to-income ratios of credit cards, mortgages, car loans and student debt loans; as well as the average number of late payments.

According to the data, Lexington residents have an average credit score of 750.59. Residents also had excellent debt-to-income ratios on their debts, with average credit card ratios totaling 7.88 percent, mortgage ratios totaling 501.19 percent, car loan ratios totaling 19.19 percent and student loan ratios totaling 52.63 percent.

Lexington residents were ranked as the best money managers in the Commonwealth, followed by Winchester, Belmont, Arlington and Needham. Lexington was ranked just below the California cities of Cupertino, Saratoga, Laguna Woods and Los Altos. All of these communities ranked in the 99th percentile in the country.

Click here to view the study’s methodology. WalletHub collected data from TransUnion and Renwood RealtyTrac.