Study finds Tampa residents among the most financially strained in the US.

Tampa residents face inflation, fluctuating unemployment rates, recession speculation, and an affordable housing crisis. According to a recent WalletHub report, Tampa ranks among the most financially distressed cities in the US. The study evaluated various factors such as average credit score, bankruptcy filings, and accounts in distress.

Tampa ranked 22nd overall and fourth for accounts in distress. Financial distress is defined as having accounts in forbearance or deferred payments due to financial difficulties.

Overcoming this situation requires budgeting, expense reduction, and debt management strategies. Jacksonville and Miami are the only Florida cities with higher financial distress rankings. The economic strain has even affected executive-level positions, such as Tampa International Airport’s CEO search.

Home prices in Tampa Bay have surged significantly since the Covid-19 pandemic, surpassing the national average. Below are the rankings for the ten most distressed and least distressed cities.

Most distressed

1. Chicago
2. Houston
3. New York
4. Los Angeles
5. Dallas
6. Las Vegas
7. San Antonio, Texas
8. Atlanta
9. Riverside, California
10. Jacksonville

Least distressed

1. Madison, Wisconsin
2. Glendale, Arizona
3. Jersey City, New Jersey
4. Pittsburgh
5. Lincoln, Nebraska
6. Des Moines, Iowa
7. Chandler, Arizona
8. Gilbert, Arizona
9. Scottsdale, Arizona
10. Boise, Idaho