ARIZONA NEWS

Phoenix ranks as 6th most financially distressed US city during COVID-19

Nov 1, 2020, 9:56 AM | Updated: 10:56 am
(KTAR News Photo/Matt Bertram)...
(KTAR News Photo/Matt Bertram)
(KTAR News Photo/Matt Bertram)

PHOENIX — Many have struggled to navigate the murky economic waters that the coronavirus has created, but very few have been impacted like the city of Phoenix.

That’s what research group WalletHub.com has determined in a recent study that ranks Phoenix sixth in people with the most financial distress during COVID-19.

Phoenix comes in behind Las Vegas, Chicago, Houston, San Antonio and Dallas.

Concern by people in Phoenix caused high search interest for loans and debt consolidation as the website ranked the city eighth and fifth in both categories, respectively.

The high score was also bolstered by having the 15th most bankruptcy filings and 18th worst credit scores.

In terms of rankings by actual distress, Phoenix finished in the middle of the pack. The city came in at No. 48 for accounts in distress and No. 57 for people in distress.

The survey took into account the 100 largest cities in the country.

Other cities in the Valley made the list with Mesa coming in at No. 23 and Glendale at No. 49.

Chandler and Gilbert were ranked side-by-side at No. 73 and No. 74, respectively, and Scottsdale came in at No. 95 as one of the least impacted cities in the country.

The city with the least amount of financial distress was Anchorage, AK.

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Phoenix ranks as 6th most financially distressed US city during COVID-19