Cities with the Best Credit Scores in Utah
The Western state of Utah joined the United States about 120 years ago towards the end of the nineteenth century.
Today, Utah has been ranked as one of the most livable states in the country. There’s more evidence for that as well. A 2016 report pegged Utah’s economy first in the country for fastest growing firms, and Utah ranked well for plenty of other economic metrics such as third for business start up activity.
Overall, it is pretty clear that Utah encases a growing and supportive economy. At a glance, its unemployment rate is at 3.5 percent, and the majority of its labor force works in the manufacturing, government, education, and professional business services industries.
Since Utah appears to be the place to be, we wanted to take a second look at the individual towns of Utah. By that, we wanted to see how they stack up against each other financially. What better gauge of financial health than the credit score?
>> Read More: What is a good credit score?
Using licensed data from Experian’s Premier Aggregated Credit Statistics, we ranked the towns and cities of Utah by their credit scores. Scroll down to see if your town made the cut.
Like many of the other credit score studies, this report relied on the Onboard Informatics city dataset as well as the Experian Premier Aggregated Credit Statistics (PACS). From PACS, we used ZIP Code™1 and VantageScore®2 3.0 data; from Onboard, we used city and county name, current population, and ZIP Code™ data. ZIP Codes were used as the common piece of data used to join the two data sets.
Each location in Utah was uniquely defined by a city/town name and county name. Each of these locations had one VantageScore® 3.0 value and population figure. Data for locations with multiple ZIP™ Codes were aggregated together, resulting in a single VantageScore® 3.0 and population like the rest of the locations. VantageScore® was aggregated using a weighted average equation with population used as the weight, and population was aggregated with a simple summing equation.
A population threshold of 1,000 was used to phase out lower population areas, leaving about 120 locations from the original 249 or so unique locations. The remaining locations were ranked by VantageScore® 3.0, and the top 100 locations were included in the report.
1. 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.
2. VantageScore® is a registered trademark of VantageScore Solutions, LLC.