Ranking Texas Towns and Cities By Credit Score
- August 31, 2018
- Posted by: Mike Brown
- Category: Credit Scores
The state of Texas is one of the largest, proudest, and most important states in the United States of America.
Texas is the second largest state in the U.S. in both size and population, trailing only Alaska and California, respectively. The Lone Star State is home to many major U.S. cities such as San Antonio, Houston, Dallas, and Austin.
It would be hard to argue that any other state has a richer and prouder history than Texas. The state has had six nations rule over its current territory: Spain, France, Mexico, the Republic of Texas, the Confederate States of America, and finally the U.S.
The Battle of the Alamo has its place in the history books as a battle that proved the toughness and pride of Texans and, later, Americans. The U.S. annexation of Texas in 1845 sparked a war between Mexico and the U.S.
The Lone Star State has a history that very few states can compete with, and today, only a couple of states can go toe-to-toe with Texas in another facet: the economy.
The economy of Texas is massive and absolutely vital to the overall financial health of the U.S. It started after the Civil War, when Texas developed a flourishing cattle industry. Later in the early 20th century, the discovery of oil in Texas lands jumpstarted an economic boom. Today, the Texas economy has become even more diversified with a growing high-tech industry.
In 2010, Texas was tied with California for having the most Fortune 500 companies with 57. The Lone Star State has become the leader in industries including agriculture, petrochemicals, energy, computers, aerospace, electronics, and biomedical services. Additionally, Texas has led the U.S. in export revenue since 2002 and has the second highest gross state product.
With such an expansive economy, LendEDU thought it would be interesting to take a look at how the residents of Texas are benefiting. Using Experian’s Premier Aggregated Credit StatisticsSM dataset, we have found the average VantageScore 3.0®1 credit score for each town and city in Texas.
The table found below has ranked Texas cities according to their average credit score. Only places with a population above 1,000 were analyzed.
Credit scores are a good economic indicator. Cities with a high average credit score usually experience high incomes, low unemployment, and a low number of defaults on mortgages and loans.
Complete Rankings of Texas Cities By Credit Score
All data used in this study is under license from Onboard Informatics and Experian. Onboard Informatics' dataset was used for the most recent population figures and location purposes. Experian's Premier Aggregated Credit StatisticsSM dataset was used to find the average VantageScore 3.0® credit score for every single Texas town and city.
A population cutoff was set at 1,000; any towns or cities with a population below 1,000 were eliminated from further analysis. Some of the larger cities in Texas had multiple ZIPTM2 codes and thus multiple average credit scores. In order to consolidate a city's ZIPTM codes into one statistic, ZIPTM codes were weighted according to population. ZIPTM codes with a greater population were given more weight when averaging their average VantageScore 3.0® credit scores.
Once each city was down to one ZIP CodeTM and one average VantageScore 3.0® credit score, we were able to rank the cities accordingly. Experian's Premier Aggregated Credit StatisticsSM dataset has the average VantageScore 3.0® credit score as a stand alone statistic. Cities with a higher average credit score were ranked higher on the table and vice versa.
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.