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Where Phoenix Ranks As Financially Distressed City During COVID-19

By on November 2, 2020 0 884Views

Our country is 8 months into the coronavirus pandemic and sadly many Americans have struggled with financial circumstances that the virus has created. Where does the city of Phoenix rank in terms of the most financially distressed US cities impacted by COVID-19?

In a recent study, WalletHub.com has determined that Phoenix ranks sixth in people with the most financial distress during COVID-19.

The survey took into account the 100 largest cities in the country. Phoenix falls behind Las Vegas, Chicago, Houston, San Antonio and Dallas.

Concern by people in Phoenix caused high search interest for loans and debt consolidation as the website ranked the city eighth and fifth in both categories.

The high score was also due to having the 15th most bankruptcy filings and 18th worst credit scores.

In terms of rankings by actual distress, Phoenix finished in the middle of the pack. The city came in at No. 48 for accounts in distress and No. 57 for people in distress.

Other cities in the Valley made the list with Mesa coming in at No. 23 and Glendale at No. 49.

Chandler and Gilbert were ranked side-by-side at No. 73 and No. 74, respectively, and Scottsdale came in at No. 95 as one of the least impacted cities in the country.

The city with the least amount of financial distress was Anchorage, AK.