According to a recent study done by website Bankrate.com, some cities are actually much better for accumulating wealth than others. But what makes these cities such financial utopias? There are several factors that contributed to creating the list such as the labor market, after-tax income, debt levels and the housing market. So, according to the report, these 15 cities are the best options for building wealth.
Philadelphia is actually one od the most underrated cities when it comes to living conditions. This city offers excellent job and housing opportunities and is already a huge economic and educational center but it’s still evolving.
Surplus income in Philadelphia is a bit higher than $8,000 and at 67.7%, home ownership rate is one of the highest in the country. It is the home to seven Fortune 1000 companies, i.e. 1000 largest American companies. And saving money in Philly is also quite easy since the city has excellent walkability so you won’t need a car or transportation while cultural events and restaurants also have more than reasonable prices.