Houston Ranked #1 as the Best City to Grow Wealth

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In a recent study done by Bankerate, it was determined that Houston is the best city for workers to grow their wealth in. Though keep in mind, although Houston is a great place to grow wealth for many, that doesn’t necessarily mean it’s what is best for everyone. Be sure to keep your individual job market in mind before up and moving to Houston!

The following was taking from Bankrate.com as an explanation of what factors are considered when determining the best city to grow wealth.

After-tax, savable income: This is what’s left over after taxes and necessary expenses. It’s what you could sock away in an interest-bearing account.

The job market: Can workers find jobs at competitive wages?

Human capital: Can residents find educational opportunities to help advance their careers and earn more money later?

Access to financial services: Do people have access to financial products that allow them to invest, save and borrow efficiently?

The local housing market: For better or for worse, homeownership is a key way Americans build wealth. If your local housing market is struggling, it can be harder for prospective homebuyers to get a mortgage and for homeowners to accumulate equity.

Additionally, Bankrate says that they also take other factors into consideration, but those factors were not listed.

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