Are Milford Residents Good Money Managers?

MILFORD, MA - Managing one’s money can be tough and a recent study ranked which communities in the country do it best.

According to a recent study by WalletHub, Milford residents are ranked 224th among American communities based on credit scores; the debt-to-income ratios of credit cards, mortgages, car loans and student debt loans; as well as the average number of late payments. Milford residents were in the 77th percentile nationwide.

Milford residents on average have 2.31 late payments to their name and an average credit score of 686.54.

Lexington residents were ranked as the best money managers in the Commonwealth, followed by Winchester, Belmont, Arlington and Needham; all of these communities were in the 99th percentile in the country.

Click here to view the study’s methodology. WalletHub collected data from TransUnion and Renwood RealtyTrac.