NASHVILLE, Tenn. (WKRN) — Nashvillians are among many who are feeling distressed amid the rise of significant financial challenges, according to a new study.
An analysis by WalletHub broke down the cities where residents are struggling more financially than others.
To determine this, WalletHub analyzed the largest 100 cities in the United States across nine key metrics. Factors included the average credit score, the change in bankruptcy filings between Dec. 2023 and Dec. 2024, and the amount of people with accounts in distress.
The study defined distress as “having a credit account in forbearance or with deferred payments, meaning the account holder has been granted temporary relief from making payments due to financial hardship.”
Nashville ranked as the nineteenth city with the most people in financial distress, according to WalletHub.
A previous News 2 report covered a 2024 WalletHub study that ranked Tennessee as the fourth state with the most people in financial distress.
Music City had the fourteenth-most share of people with accounts in distress. It also had a high average of accounts in distress, ranking in the top 20.
In addition, Nashville is experiencing some of the highest Google search activity for terms like
“debt” and “loans,” which indicates a need for borrowing.
Cities the most financially distressed residents:
- Houston, Texas
- Atlanta, Georgia
- Jacksonville, Florida
- Dallas, Texas
- Charlotte, North Carolina
“Getting out of the downward spiral of financial distress is no easy feat. You may get temporary relief from your leaders by not having to make payments, but all the while interest will keep building up, making the debt even harder to pay off,” said Chip Lupo, WalletHub analyst. “People who find themselves in financial distress should budget carefully, cut non-essential expenses and pursue strategies like debt consolidation or debt management to get their situation under control.”
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Anchorage, Alaska; Fort Wayne, Indiana; and Scottsdale, Arizona were listed as some of the cities that had the least amount of residents in financial distress.
To view the full study and see how other cities ranked, click here.
