Atlanta ranked as one of worst large cities for building wealth

Mason Voudrie takes in the first day of winter at Piedmont Park Wednesday. JOHN SPINK / JSPINK@AJC.COM
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Mason Voudrie takes in the first day of winter at Piedmont Park Wednesday. JOHN SPINK / JSPINK@AJC.COM

Looking to significantly increase your bank account? Think twice before considering Atlanta, because it has been named one of the worst cities to build wealth by BankRate.

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To determine the rankings, the finance website analyzed the 21 largest metro areas in America using five major categories: savable income, human capital, debt burden, homeownership rate and access to financial services.

The Peach City earned the No. 18 spot, while San Francisco placed first and Minneapolis second.

Although ATL had a higher homeownership rate of 62.1 percent, its lower savable income amount of $2,503 caused the city to fall towards the bottom of the list.

On the other hand, San Francisco’s homeownership rate was slightly lower at just 53 percent, but its savable income amount of $16,657 helped it beat out the rest of the cities overall.

Atlanta wasn’t the only area to fall short. Tampa, Miami and San Bernardino ranked No. 19, 20 and 21, respectively.

Want to know how the other places fared? Here's the full report.

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