Lower-rent cities have bigger spenders

Jennifer Collins Mar 24, 2010
HTML EMBED:
COPY

Lower-rent cities have bigger spenders

Jennifer Collins Mar 24, 2010
HTML EMBED:
COPY

TEXT OF STORY

Bill Radke: Where are the biggest spenders in America? Not New York. A new report show that the biggest consumers are in the city of Austin, Texas. New York City doesn’t even make it to the top 10. Marketplace’s Jennifer Collins reports.


Jennifer Collins: The ladies from Sex and the City may be known for hitting up Manhattan’s expensive shoe shops:

CARRIE BRADSHAW: Manolo Blahnik Mary Janes. I thought these were an urban shoe myth.

But maybe New York’s fashionistas actually have to save their money for rent. New York only ranks 53 on a list of the country’s biggest spenders.

Personal finance site Bundle.com tallied expenditures excluding housing. The site’s managing editor, Janet Paskin, says the cities with most avid consumers seem to be ones with relatively reasonable rent and mortgage.

Janet Paskin: And if you’re not spending that money on housing, you’re spending it on other things like food and drink, travel, shopping.

The top two on the list are Austin, Texas and Scottsdale, Ariz. Both cities boast household consumption over $60,000 a year. The report says the average American household spends about $37,000.

I’m Jennifer Collins for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.