These 250 Cities Have the Best Credit Scores in the Southwest United States
- August 31, 2018
- Posted by: Mike Brown
- Category: Credit Scores
While not an official geographic region, the American Southwest is an area of great pride and beauty.
In this particular study, LendEDU labeled Texas, Arizona, New Mexico, and Oklahoma as the states making up the Southwest United States. Major cities in the region include Houston, Dallas, San Antonio, Austin, Phoenix, Tucson, Albuquerque, Mesa, and Oklahoma City.
The state of Texas is known for its unique culture and profound sense of pride, but is also recognized as a place of great economic opportunity. After the discovery of oil in the state, Texas has built a very prosperous energy industry.
With the breathtaking Grand Canyon National Park and various other destinations, Arizona has created a strong economic sector for tourism. Arizona also features a large health care sector, responsible for many jobs in the state.
Similarly to Texas, New Mexico and Oklahoma both boast expansive oil and gas producing operations that bolster their respective economies. Oklahoma is often mentioned as having one of the fastest growing economies in the entire country.
With four seemingly stable economies spread across the region, LendEDU wanted to see how the towns and cities of these Southwest states stacked up against each other in terms of financial health. To do this, we licensed Experian’s Premier Aggregated Credit StatisticsSM dataset to find the average credit score of every single town and city in the American Southwest.
Average credit score can be a good economic indicator because cities with a high average credit score have usually experienced rising incomes, falling unemployment, and a decreasing number of defaults on loans and mortgages.
Our study evaluated over 2,500 towns and cities in the Southwest U.S. Our final list recognizes the 250 cities in that region that recorded the highest average credit scores.
Which Southwestern state had the most cities in LendEDU's top 250 overall?
- Texas - 157
- Arizona - 46
- Oklahoma - 33
- New Mexico - 14
Which Southwestern state had the best average rank based on their cities that made the top 250?
- Arizona - 102.1
- Texas - 127.6
- New Mexico - 136.5
- Oklahoma - 143.6
Which Southwestern state had the best average credit score based on their cities that made the top 250?
- Arizona - 700
- New Mexico - 691.3
- Texas - 690.6
- Oklahoma - 683.9
Southwestern Cities and their Credit Scores - Map
Complete Rankings of the 250 Cities That Have the Best Average Credit Scores in the Southwest
All data used in this study is under license from Experian and Onboard Informatics. Onboard Informatics' dataset was used for the most recent population figures and location purposes. Experian's Premier Aggregated Credit Statistics dataset was used to find the average VantageScore 3.0®1 credit score for every single town and city in the Southwest United States. Over 2,500 cities and towns in the American Southwest were evaluated based on their average credit scores. A population cutoff was set at 7,500; any town or city with a population below 7,500 was eliminated from further analysis.
For some of the larger cities in the Southwest, like Dallas, multiple ZIPTM2 codes were used, and thus, multiple average credit scores were listed. To aggregate all of a city's average credit scores into one average, we had to weight each average credit score according to the population of that ZIP CodeTM. ZIP codes in a given city with a greater population were given more weight when averaging together a city's multiple average credit scores and vice versa. Once this happened for all cities containing multiple ZIP codes, we could rank every city featured in the analysis.
Every city in the Southwest U.S. was given an average VantageScore 3.0 credit score. The greater the average credit score, the higher a city was placed in the rankings and vice versa. The 250 Southwestern cities featured in the report were the 250 cities in the region that posted the highest average credit scores.
1. VantageScore® is a registered trademark of VantageScore Solutions, LLC.
2. Experian is a nonexclusive full-service provider licensee of the United States Postal Service®. The following trademarks are owned by the United States Postal Service®: ZIP and ZIP Code. The price for Experian's services is not established, controlled or approved by the United States Postal Service.