Lake Oswego Residents Ranked Oregon's Best Money Managers

LAKE OSWEGO, OR — Managing one’s funds is one of the great struggles of the modern human condition, but Lake Oswego residents have seemingly mastered that struggle better than the rest of the state.

According to a recent study by WalletHub, Lake Oswego residents are among some of the best in the country at managing their finances. The city's residents rank at No. 106, and were in the 96th percentile of the study.

The rankings were based on based on credit scores, the debt-to-income ratios of credit cards, mortgages, car loans and student debt loans and the average number of late payments for residents of a given city. The methodology isn't perfect, but at least provides a superficial look at how people best manage their finances. If someone can avoiding debt and overdue credit card payments, chances are they know their way around a checkbook.

According to the data, Lake Oswego residents have an average credit score of 726.53. Residents also had excellent debt-to-income ratios on their debts, with average credit card ratios totaling 15.29 percent, mortgage ratios totaling 721.36 percent, car loan ratios totaling 33.62 percent and student loan ratios totaling 68.44 percent.

Lake Oswego residents were ranked as the best money managers in the beaver state, followed by West Linn (No. 448), Wilsonville (No. 720) and Happy Valley (No. 737).

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