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Title: Increase in FICO Scores Across U.S. Cities: A 2024 Review
Introduction:
In recent years, there has been a notable increase in FICO scores across various cities in the United States. This rise in credit scores reflects positive financial behaviors and trends among residents. Let’s delve into the details of this upward trend and explore which cities have seen significant improvements in their average FICO scores.
FICO Score Jumps Observed in the Nation’s Big Cities:
The average FICO Score in the U.S. has seen a steady increase from 703 in 2019 to 715 in 2024. This upward trajectory is not limited to the national level but is also evident in every state and metropolitan area. The data, sourced from Experian, highlights a positive trend in credit scores nationwide.
Cities Where Average FICO Scores Increased by 20 or More Points Since 2019:
Several cities have experienced substantial growth in their average FICO scores over the past five years. Locations like Augusta, GA, Brownsville, TX, and Boise, ID, have seen impressive improvements, with some areas witnessing a point increase of 20 or more. These positive changes indicate a shift towards better financial health among residents.
Mid-sized Metros in Southern States Leading the Way:
The majority of cities showing a significant increase in FICO scores belong to mid-sized metros in Southern states. These areas are attracting new residents looking for affordable housing options, contributing to the overall improvement in credit scores. The construction boom in these regions also plays a role in boosting creditworthiness among residents.
Cities With the Highest Average FICO Scores in 2024:
Certain cities have consistently maintained high average FICO scores, surpassing the national average by a significant margin. Locations like Boulder, CO, Madison, WI, and San Jose, CA, have demonstrated strong credit profiles, reflecting responsible financial habits among residents. These cities serve as examples of credit excellence and financial stability.
Conclusion:
The rise in FICO scores across U.S. cities signifies a positive shift towards better financial management and credit health among residents. As the credit landscape continues to evolve, it is essential for individuals to prioritize responsible financial behaviors to maintain and improve their credit scores. For expert mortgage services and guidance, contact O1ne Mortgage at 213-732-3074 to fulfill your mortgage needs with the best loan salesperson in town.
