Website ranks ‘Best Cities for the Broke,’ Utah town makes the list

Posted at 3:41 PM, Mar 05, 2014

SALT LAKE CITY — A financial information and education website recently published a list of the 10 cities they think are the best places to be for those who are broke, and a Utah city came in at No. 5.

Credit Donkey looked at the unemployment rate, the Consumer Price index and the CPI-Household Income Ratio to determine their rankings. Salt Lake City came in at number five with a CPI of 100.6, an unemployment rate of 3.5 percent and a CPI-Household Income of 87.7 percent.

Credit Donkey reportsthat Salt Lake City is the “most expensive” city on their list, but stated that high average incomes and low unemployment numbers compensated for the expense.

Click here to see the rest of the list and to read more about the methodology used to create it.

Salt Lake City was also recently included on Forbes’ list of best cities for a working retirement.