Omaha ranks high in a recent savings survey, coming in 22nd on the GoBankingRates list of the best and worst cities for saving money.
The study surveyed the 100 most populated cities in America on five key factors: unemployment rate, sales tax, median household income, median home price and the city’s average savings account rate.
“The ability to stop living paycheck-to-paycheck and start saving has a lot to do with circumstance and environment,” said GoBankingRates managing editor Casey Bond. “No one can take advantage of even the best interest rates if taxes are through the roof, homes are unaffordable and there aren’t any jobs.”
Lincoln ranked No. 52, due to a lower average savings-account rate and lower median household income. Omaha tied with Charlotte, N.C.
GoBankingRates cited Omaha’s unemployment rate of 3.9 percent, sales tax of 7 percent, median household income of almost $56,000, median home price of about $139,000 and average savings account interest rate of .055 percent.
The five highest-ranked cities are Atlanta, Jacksonville, Fla., Honolulu, Houston and Anchorage.
North Las Vegas, Mesa, Ariz., and the California cities Riverside, Long Beach and Stockton are the five worst cities for saving money.