Mobilians, Pensacolans don’t save much money

Local News

Study ranks Gulf Coast cities among the worst mid-sized cities

Mobile and Pensacola rank poorly in a new study that looks at the best metropolitan areas for saving money.

Of 97 mid-sized cities ranked, Mobile was 78th and Pensacola 69th. Midsized metro areas consist of 350,000-999,999 people.

Self Financial analyzed the latest data from the U.S. Census Bureau, the Bureau of Economic Analysis, Zillow, and the Department of Housing and Urban Development. The researchers ranked metro areas according to a composite score based on the following factors: real per capita personal income, median housing costs as a percentage of median household income, and the historical unemployment rate. For additional context, researchers also calculated the median home price and the fair market rent for a two-bedroom apartment.

Mobile
Composite score: 63.31
Real per capita personal income: $43,042
Median housing costs as a percentage of household income: 22.2%
Historical unemployment rate: About average
Median home price: $122,892
Fair market rent (2br): $874
For reference, here are the statistics for the entire United States:

Pensacola
Composite score: 68.14
Real per capita personal income: $43,623
Median housing costs as a percentage of household income: 20.1%
Historical unemployment rate: About average
Median home price:
Fair market rent (2br):

U.S. Average
Real per capita personal income: $50,372
Median housing costs as a percentage of household income: 21.0%
Historical unemployment rate: 5.3%
Median home price: $242,141
Fair market rent (2br): $1,204

Fayetteville, Arkansas ranked #1. Huntsville, Alabama was 5th.

See the full report here

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