WalletHub: Four Florida Cities in Top 10 for Financially Distressed Residents

Florida might be known for its warm weather and pristine beaches, but residents seem to feel financially distressed by its high costs.

According to a study from WalletHub, four Florida cities were named in the top 10 for having the most financial distress in America. The list woefully named Jacksonville in second place, Orlando in sixth place, Tampa in eighth place, and Miami in ninth place.

“Getting out of the downward spiral of financial distress is no easy feat. You may get temporary relief from your lenders by not having to make payments, but all the while interest will keep building up, making the debt even harder to pay off," WalletHub Analyst Chip Lupo said.

WalletHub analyzed 100 of the largest cities in the nation across nine key metrics. Factors used included average credit scores, changes in bankruptcy filings between December 2023 and December 2024, and the share of people with financial accounts in distress.

"People who find themselves in financial distress should budget carefully, cut non-essential expenses, and pursue strategies like debt consolidation or debt management to get their situation under control," Lupo added.

Jacksonville specifically ranked first for people with accounts in distress and the average number of accounts in distress for a total score of 67.94. The city also ranked 14th in debt search interest, 17th in loans search index, and 50th in a change in bankruptcy filings between December 2023 and December 2024.

"Jacksonville City has the third-most financially distressed residents in the country, this is evident from the fact that nearly 16% of its residents are having accounts in distress, the highest percentage in the nation, along with the highest number of distressed accounts per person," WalletHub said.

Both Orlando and Tampa also ranked first for people with accounts in distress. The cities had total scores of 65.32 and 63.38, respectively.

Miami also ranked ninth for people with accounts in distress and had a total score of 61.91. All three cities ranked in the top 25 in five categories, not including credit score rank.

Overall, Houston was ranked the most financially distressed city in America with a total score of 76.44. Texas also tied Florida with three other cities in the top 10.