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Mankatoans savviest in nation about debt

The top 10 most debt-savvy cities in the nation are all in the Upper Midwest states of Minnesota, Wisconsin, Michigan, Iowa and the Dakotas

by Tim Krohn, Mankato Free Press
Posted on Nov 11, 2015

MANKATO — Mankato-area residents have a better handle on their debt and have higher credit scores than any other city in the nation.

SmartAsset, a New York financial technology company, rated cities across the country based on four factors, and Mankato ranked tops with a "debt savvy" score of 100 percent.

It means residents are, in general, keeping their debt ratio low, not maxing out their credit cards, not buying things they can't afford and are paying their bills on time.

Mankato has the highest average credit score (705.8) and the 10th lowest foreclosure rate (1.5 percent) in the nation. (The national credit score average is 664.7.)

(Continued here. Note: The Vox Verax authors and editors live in Mankato.)