NEW ORLEANS – Nearly nine in 10 Americans say COVID-19 has triggered stress on their personal finances. For the second year in a row, Financial advice website SmartAsset has crunched the numbers to find the cities with the most financial stress. Specifically, the site analyzed data for 99 of the largest U.S. cities across eight metrics including unemployment, housing insecurity, food insufficiency and divorce rate.
New Orleans ranks No. 1 among cities with the most financial stress. From the report;
“New Orleans is the only city in our top 10 that isn’t located in either Nevada or Texas. The Big Easy ranks within the worst 10 cities of the study for three different metrics: It has the eighth-highest percentage of severely housing cost-burdened households (16.40%), the ninth-highest rate for the percentage of the population below poverty line (23.8%) and the 10th-highest county unemployment rate in the study (19.5%).”
