This Florida city has the most people in ‘financial distress.’ Here’s why

Study examines factors like credit scores and bankruptcy filings

Published: February 24, 2025 at 5:00 AM

Tags: Money, Finance, Jacksonville, Orlando, Florida Ranked, Tampa, Miami, Texas

JACKSONVILLE, Fla. – This month, WalletHub has released its 2025 study detailing which cities across the nation have the most people in financial distress.

According to the study, researchers defined “financial distress” as having a credit card in forbearance or with deferred payments, which indicates financial hardship.

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“In recent years, Americans have faced significant challenges, from periods of high unemployment to high inflation,” the study reads. “While economic conditions have improved, many individuals continue to experience financial distress.”

The ranking examined the 100 largest cities in the country, breaking down the data across the following key factors:

Credit Scores
People with Accounts in Distress
Average Number of Accounts in Distress
Change in Bankruptcy Filings (Dec. 2024 v. Dec. 2023)
“Debt” Search Interest Index
“Loans” Search Interest Index

Coming out on top was the Texas city of Houston, with a score of 76.44%. Not only does the city have a high share of its population with accounts in distress as compared to other cities (over 9%), but there are also higher numbers of accounts in distress per person, the data reveals.

But the highest-ranked city in the Sunshine State placed just a couple spots lower at No. 3: Jacksonville.

“Jacksonville City has the third-most financially distressed residents in the country, this is evident from the fact that nearly 16% of its residents are having accounts in distress, the highest percentage in the nation, along with the highest number of distressed accounts per person.
In addition, due to financial strain residents of Jacksonville were allowed to defer payments in 2024, as the city saw the biggest change in the share of people with accounts in distress between Q4 2023 and Q4 2024, marking a nearly 87% increase.”
WalletHub, "Cities with the Most People in Financial Distress"

Aside from Jacksonville, three other Florida cities managed to crack the top 10 on this list — Orlando (No. 6), Tampa (No. 8), and Miami (No. 9).

Looking at the data further, Jacksonville, Orlando, and Tampa all tied for first place when it came to the number of people with accounts in distress.

In fact, Florida as a whole — which has suffered higher costs of living thanks to the massive influx of people moving to the state over the past few years — placed No. 5 overall for WalletHub’s list of states with the most people in financial distress.

Luckily, the study also includes some tips for people trying to get out of financial distress:

Consider hardship programs: If your financial difficulties are temporary, you can ask your creditors about their “hardship programs.” These programs allow you to temporarily defer or reduce your monthly payments until you get back on your feet.
Try debt management: Debt management involves negotiating permanently better terms with your credit card issuer, such as lower monthly payments or a lower interest rate. Creditors want to get paid on time, so if you show a willingness to pay what you owe but express that you need a bit of relief to do so, you may be successful. You should avoid paying a debt management company, though, as you can set up a plan directly with your lender.
Avoid easy ways out: You might be getting offers for various types of debt solutions, and it can be difficult to determine what’s legitimate and what’s not. A good rule of thumb is that if it seems too good to be true, it probably is. For example, debt settlement companies may promise to get you off the hook for pennies on the dollar, but they’ll also require you to default first and hurt your credit score further. They tend to charge expensive fees, too. You could propose a debt settlement offer to your lender directly, but most people in financial distress don’t have the money saved for a lump-sum payment.
Consolidate your debt: A debt consolidation loan can put all your debts in one place with a lower interest rate. Another similar option is a balance transfer credit card. In both cases, though, you’ll typically need good or excellent credit to qualify for any decent options. You can qualify for a debt consolidation loan with lower credit scores – even bad credit, in some cases – but you won’t necessarily get an interest rate lower than the ones on your existing debts.
Avoid predatory lenders: It may be tempting to get quick, almost-guaranteed cash from a payday lender or auto title lender. But if you do, you’ll be slapped with exorbitant interest rates and fees that will make paying back the money a nightmare.
Budget carefully: One way to have more money to pay your debts each month is to be stricter about your spending. Cut out any luxury purchases that you can, try to find better deals on your essential purchases, and put as much extra as you can toward paying your debts. In most cases, anything extra that you pay will help pay down the principal balance, rather than just interest, which helps you get out of debt more quickly.

Meanwhile, the rest of WalletHub’s city-by-city ranking is as follows:

Rank	City	Total Score	Credit Score Rank	People with Accounts in Distress Rank	Number of Accounts in Distress Rank	Changes in Bankruptcy Rank	‘Debt’ Searches Rank
1	Houston, TX	76.44	18	7	6	59	5
2	Atlanta, GA	76.24	36	5	4	92	4
3	Jacksonville, FL	67.94	28	1	1	50	14
4	Dallas, TX	67.79	22	20	18	8	13
5	Charlotte, NC	66.65	6	1	1	26	25
6	Orlando, FL	65.32	47	1	1	23	25
7	San Antonio, TX	64.31	17	31	33	1	14
8	Tampa, FL	63.68	79	1	7	9	14
9	Miami, FL	61.91	98	10	22	19	5
10	Austin, TX	61.42	21	38	32	1	14
11	Los Angeles, CA	61.27	75	52	54	33	1
12	Las Vegas, NV	59.67	86	51	42	76	1
13	New York, NY	59.67	86	51	42	76	1
14	San Diego, CA	58.46	56	33	27	45	9
15	Chicago, IL	57.09	73	78	55	81	1
16	Fort Worth, TX	54.47	29	36	38	28	25
17	Phoenix, AZ	52.31	45	62	51	64	9
18	Detroit, MI	51.11	84	21	14	90	14
19	Nashville, TN	50.38	48	14	12	89	38
20	Denver, CO	48.92	65	84	46	18	14
21	New Orleans, LA	47.33	40	11	13	70	44
22	Garland, TX	46.52	10	18	15	7	89
23	Riverside, CA	46.37	71	47	57	21	5
24	Louisville, KY	46.35	41	9	8	97	38
25	Philadelphia, PA	46.21	60	73	59	54	5
26	Baton Rouge, LA	45.98	24	16	16	35	60
27	Irving, TX	45.82	42	25	9	12	78
28	Omaha, NE	45.22	37	12	10	58	44
29	Winston-Salem, NC	44.94	97	6	5	51	78
30	Indianapolis, IN	44.05	8	60	67	31	32
31	Raleigh, NC	43.93	1	35	35	24	32
32	Seattle, WA	43.58	67	93	74	16	9
33	Cleveland, OH	43.55	54	59	47	48	25
34	Plano, TX	43.50	15	30	20	5	60
35	El Paso, TX	43.48	11	56	68	80	32
36	Hialeah, FL	42.97	92	8	19	19	60
37	Memphis, TN	42.92	25	39	45	95	32
38	Sacramento, CA	41.92	83	70	71	6	25
39	Columbus, OH	41.62	68	61	64	71	25
40	North Las Vegas, NV	41.47	7	15	23	42	89
41	Laredo, TX	41.33	3	17	26	74	89
42	Arlington, TX	40.70	13	27	31	39	60
43	Reno, NV	40.59	64	29	36	1	78
44	Oklahoma City, OK	40.11	52	46	43	88	38
45	Birmingham, AL	39.92	46	23	34	79	38
46	Milwaukee, WI	39.58	20	63	58	60	44
47	San Jose, CA	39.57	77	91	86	15	14
48	Baltimore, MD	39.40	31	85	76	83	14
49	Washington, DC	39.29	55	69	65	47	14
50	Minneapolis, MN	38.90	59	88	94	13	25
51	Boston, MA	38.87	96	67	91	4	14
52	Greensboro, NC	38.22	5	28	25	56	60
53	Durham, NC	38.10	19	32	21	27	60
54	Spokane, WA	37.50	69	26	17	30	89
55	Des Moines, IA	37.31	74	13	11	91	78
56	Tulsa, OK	36.88	72	40	28	29	60
57	Fresno, CA	35.78	95	71	81	10	44
58	Irvine, CA	35.64	2	43	39	36	52
59	Cincinnati, OH	35.11	62	76	77	22	44
60	Henderson, NV	34.88	12	41	49	42	78
61	Albuquerque, NM	33.84	75	79	72	32	52
62	San Francisco, CA	33.76	81	97	93	41	14
63	Buffalo, NY	33.09	63	45	48	40	44
64	Chula Vista, CA	32.98	39	34	37	45	89
65	Corpus Christi, TX	32.96	44	19	29	98	89
66	Tucson, AZ	32.88	53	72	78	52	44
67	Virginia Beach, VA	32.69	14	49	66	49	52
68	Colorado Springs, CO	32.65	30	81	69	25	52
69	Lincoln, NE	32.16	61	24	24	84	89
70	Kansas City, MO	31.89	51	65	50	96	38
71	Pittsburgh, PA	31.80	34	68	63	53	38
72	Lubbock, TX	31.73	16	54	56	63	78
73	San Bernardino, CA	31.64	94	57	79	14	78
74	Richmond, VA	31.57	38	64	44	87	44
75	Chesapeake, VA	31.55	4	37	41	85	78
76	Long Beach, CA	31.49	82	53	73	33	52
77	St. Louis, MO	30.88	99	42	40	99	32
78	Bakersfield, CA	30.85	89	48	61	57	52
79	Mesa, AZ	30.75	27	58	70	64	60
80	Portland, OR	30.69	32	87	87	17	60
81	Aurora, CO	30.69	32	87	87	17	60
82	Gilbert, AZ	30.35	9	44	52	64	89
83	Anaheim, CA	29.46	70	66	62	36	60
84	Glendale, AZ	28.94	43	50	82	64	60
85	Newark, NJ	27.41	80	77	84	55	52
86	Norfolk, VA	27.37	33	55	98	73	60
87	Madison, WI	26.49	26	75	75	77	60
88	Toledo, OH	26.44	58	74	80	78	78
89	Boise, ID	26.25	35	100	100	11	89
90	Santa Ana, CA	25.99	90	83	90	36	60
91	Chandler, AZ	25.35	23	98	53	64	89
92	Oakland, CA	24.72	92	86	83	61	60
93	Jersey City, NJ	22.73	50	99	95	75	60
94	Honolulu, HI	22.55	88	92	96	82	52
95	Wichita, KS	22.40	78	89	92	94	78
96	Stockton, CA	22.32	91	96	97	86	78
97	Fremont, CA	22.22	66	95	99	61	60
98	Scottsdale, AZ	22.15	100	82	60	64	89
99	Fort Wayne, IN	21.73	57	94	88	93	60
100	Anchorage, AK	12.38	87	90	89	100	89

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