Let's face a hard reality here - we've all been through a lot these past few years. And it's been affecting our wallets and our mental well-being.

Financial problem.
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We've gotten through a pandemic and we're still dealing with high unemployment rates, increasing living costs and persistent high inflation.

Money is already an issue in New Jersey

Forget about pandemics and inflation for a second. It's already very expensive to live in New Jersey as it is. In fact, residents have been moving away from New Jersey more than any other state. 

Photo by Tom Rumble on Unsplash
Photo by Tom Rumble on Unsplash

New Jersey is notorious for insane property taxes, rent prices, insurance rates and housing costs.

And this is really annoying: In 2023, New Jersey hit an all-time high for average property tax rates, according to NJ.com.

Busines using a computer to complete Individual income tax return form online for tax payment. Government, state taxes. Data analysis, paperwork, financial research, report. Calculation tax return.
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And yet given all of this, one New Jersey city has been ranked among the least financially-distressed cities in the U.S. in 2023. And you'll never guess which one.

WalletHub just conducted a study calculating the Cities with the Most People in Financial Distress, and guess what? No New Jersey cities even broke the Top 10!

Here's how WalletHub crunched the numbers:

"...WalletHub compared the 100 largest cities without data limitations across nine key metrics. Our data set includes factors like the average credit score, the change in number oof bankruptcy filings between December 2022 and December 2023, and the share of people with accounts in distress."

Hand open empty an wallet
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So which New Jersey city ranked among the least financially distressed in the country? This is shocking.

Jersey City, New Jersey

Jersey City skyline in the daytime
Photo by Tomas Martinez on Unsplash

Crazy, right? Given its proximity to New York City and its population density, Jersey City is among the most expensive places to live in New Jersey.

Out of the 100 cities evaluated for financial distress, Jersey City ranked all the way down at #93.

Jersey City ranked at #57 for Credit Score, #94 for People with Accounts in Distress, and #88 for Change in Bankruptcy Filings from Dec 22 vs Dec 23.

If you're curious, here are the Top 10 Most Financially Distressed cities:

  1. Chicago, IL
  2. Houston, TX
  3. New York, NY
  4. Los Angeles, CA
  5. Dallas, TX
  6. Las Vegas, NV
  7. San Antonio, TX
  8. Atlanta, GA
  9. Riverside, CA
  10. Jacksonville, FL

Take a look at WalletHub's map below:

Source: WalletHub

Does this surprise you? I'm shocked New Jersey didn't even break the Top 10!

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