Winchester Residents Among America's Best Money Managers

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

According to a recent study by WalletHub, Winchester residents are among some of the best in the country at managing their finances. Winchester residents rank 11th 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, Winchester residents have an average credit score of 746.39. Residents also had excellent debt-to-income ratios on their debts, with average credit card ratios totaling 10.82 percent, mortgage ratios totaling 606.52 percent, car loan ratios totaling 18.83 percent and student loan ratios totaling 47.58 percent.

Winchester was ranked second in the Commonwealth, following Lexington and being followed by Belmont, Arlington and Needham. All of these communities ranked in the 99th percentile nationally. 

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