From 2010 to 2016, the average Millennial’s credit score rose from 611 to 624. In some places, including Dallas and Phoenix, the jump was even more pronounced.
SmartAsset found the metros where Millennials’ credit scores are increasing the fastest. Fort Myers-Naples, Fla., ranked first, as young adults improved their average credit score from 592 in 2010 to 619 in 2016, a 4.53 percent improvement.
Seattle, Austin, San Francisco-Oakland, and Denver round out the top five. The Bay Area now has the highest average credit score for Millennials, at 676. Other places on the list with average scores above 650 include Seattle, Denver, Boston, La Crosse, Wis., Omaha, Neb., and Des Moines, Iowa.
A rebound from the recession and an improving unemployment rate were cited as reasons for why Millennials are becoming more financially prudent.
Out of the 211 metro areas we analyzed, only two had average millennial credit scores drop. Those were Presque Isle, Maine and Lafayette, Indiana. But in both of these metro areas, the average millennial credit score is above 620. The average metro area saw millennial credit scores improve by 13.7 points which equals an average increase of 2.24%.
PB Topical Ref
