Florida's Economic Distress
Florida is facing economic disaster, with recent reports from Moneywise, WalletHub, Forbes, and Yahoo Finance indicating it is the second-most distressed state in terms of debt obligations.
The state has seen a significant increase in financial distress, with a 23% rise in the share of people with distressed bank accounts between 2024 and 2025. Additionally, Florida has the sixth-highest overall share of people with accounts in distress, at 7.3%.
Measuring the share of residents in financial distress is a good way to take the pulse of a state and see whether people are generally thriving or having trouble making ends meet.
When you combine data about people delaying payments with other metrics like bankruptcy filings and credit score changes, it paints a good picture of the overall economic trends of a state, said Chip Lupo, a WalletHub analyst.
Author's summary: Florida faces economic disaster due to high debt obligations.