Honolulu ranks low in debt, survey says
Honolulu has gotten high marks from the magazine Men's Health, which in its November issue ranks 100 cities for their potential as "debt traps."
Cities with the least debt
1. Billings, Mont.
2. Sioux Falls, S.D.
3. Madison, Wis.
4. Honolulu, Hawaii
5. Fargo, N.D.
6. Lincoln, Neb.
7. Charleston, W. Va.
8. Bangor, Maine
9. Yonkers, N.Y.
10. Wichita, Kans.
Source: Men's Health magazine
Honolulu ranked was ranked fourth best, based on the magazine's compilation of data from the U.S. Census, the FDIC's most recent personal-bankruptcy rates, credit-reporting agency Experian and foreclosure tracker RealtyTrac.
Honolulu ranks low in debt and foreclosure rates, although it is not among the states with the lowest housing costs or balance-to-limit credit ratio.
Honolulu received an "A+" in debt fitness, ranking No. 4 in the top 10 cities with the least debt, behind Madison, Wis., (No. 3); Sioux Falls, S.D., (No. 2) and Billings, Mont., (No. 1).
Honolulu also ranked No. 4 in cities with the fewest foreclosures, directly behind Burlington, Vt., (No. 3); Richmond, Va., (No. 2) and Lubbock, Texas (No. 1).
For cities with the least number of people filing for bankruptcy, Honolulu came in at No. 3.
Honolulu was not, however, among the top 10 cities spending the least amount of household income on housing and rental costs, nor those with the highest average credit scores.
Las Vegas came out as the city with the most debt, topping Aurora, Colo., Atlanta, Ga. and Sacramento, Calif. Men's Health found in its survey that Las Vegas had the third-highest mortgage foreclosure rate out of 100 cities, and is also near bottom when it comes to most recent personal-bankruptcy rates and average credit scores.