With 2016 holiday spending expected to increase 3.6 percent to nearly $656 billion and more than a third of consumers exceeding their holiday budgets in 2015, the personal-finance website WalletHub released its 2016 Holiday Budgets by City report.
To help consumers with their holiday-budget planning, WalletHub’s analysts used several key metrics — ranging from “age” to “debt-to-income ratio” — to estimate and compare the maximum spending amounts for consumers in each of 570 U.S. cities.
|Cities with the Highest Holiday Budgets|
|1||Palo Alto, CA ($2,821)||11||Midland, TX ($1,752)|
|2||League City, TX ($2,362)||12||Santa Clara, CA ($1,748)|
|3||Sugar Land, TX ($2,334)||13||Arlington, VA ($1,741)|
|4||Sunnyvale, CA ($2,203)||14||Pleasanton, CA ($1,726)|
|5||Pearland, TX ($2,080)||15||Frisco, TX ($1,719)|
|6||Missouri City, TX ($1,985)||16||Newton, MA ($1,675)|
|7||Cary, NC ($1,948)||17||Flower Mound, TX ($1,675)|
|8||Mountain View, CA ($1,914)||18||Fishers, IN ($1,601)|
|9||Shawnee, KS ($1,843)||19||Columbia, MD ($1,591)|
|10||Troy, MI ($1,809)||20||The Woodlands, TX ($1,564)|
- Cambridge, Mass., has the lowest debt-to-income ratio, 19.41 percent, which is four times lower than in Menifee, Calif., the city with the highest at 78.38 percent.
- Fishers, Ind., has the lowest expenses-to-income ratio, 59.18 percent, which is 1.7 times lower than in Brockton, Mass., the city with the highest at 99.64 percent.
- Jackson, Miss., has the highest savings-to-income ratio, 165 percent, which is 1.8 times higher than in Anchorage, Alaska, the city with the lowest at 91 percent.
- Fishers, Ind., has the highest savings-to-monthly expenses ratio, 227 percent, which is 2.1 times higher than in Baltimore, the city with the lowest at 108 percent.