The Best Cities for Saving Money in 2014

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Not surprisingly, most finance experts say saving money should be a top priority. A $10,000 emergency fund, 15 percent of income siphoned away for retirement — you're expected to set aside a considerable chuck of income for the future, but what if you don't have it now?

Currently, the average savings account rate according to the GOBankingRates database is a mere 0.11% APY. As of January, the national unemployment rate was 6.6 percent, and according to ecreditdaily.com, the median price of existing U.S. homes has risen by 10.7 percent to $188,900 as of January.

Savers don't have a lot of help today, but they might find the city where they live provides better opportunity than others.

We examined the top 100 largest U.S. cities by population to find out where Americans have the best chance at growing their savings, thanks to higher yields, lower taxes, more jobs with higher incomes and less expensive homes. Below are the 10 cities that ranked the highest for saving money this year:

1. Atlanta, Georgia Average Savings Account Rate: 0.14% APY Sales Tax: 8% Unemployment Rate: 6.8% Median Household Income: $56,024 Median Home Value: $101,300

2. Jacksonville, Florida Average Savings Account Rate: 0.09% APY Sales Tax: 7% Unemployment Rate: 5.6% Median Household Income: $53,082 Median Home Value: $127,100

3. Honolulu, Hawaii Average Savings Account Rate: 0.12% APY Sales Tax: 4.5% Unemployment Rate: 3.8% Median Household Income: $66,639 Median Home Value: $627,900

4. Houston, Texas Average Savings Account Rate: 0.12% APY Sales Tax: 8.25% Unemployment Rate: 5.5% Median Household Income: $58,567 Median Home Value: $163,800

5. Anchorage, Alaska Average Savings Account Rate: 0.08% APY Sales Tax: None Unemployment Rate: 5.2% Median Household Income: $72,555 Median Home Value: $200,600

6. Lubbock, Texas Average Savings Account Rate: 0.11% APY Sales Tax: 8.25% Unemployment Rate: 4.3% Median Household Income: $45,171 Median Home Value: $90,100

7. Arlington, Texas (tie) Average Savings Account Rate: 0.07% APY Sales Tax: 8% Unemployment Rate: 5.3% Median Household Income: $56,691 Median Home Value: $130,100

7. Garland, Texas (tie) Average Savings Account Rate: 0.09% APY Sales Tax: 8.25% Unemployment Rate: 5.5% Median Household Income: $50,198 Median Home Value: $113,900

8. Plano, Texas Average Savings Account Rate: 0.10% APY Sales Tax: 8.25% Unemployment Rate: 5.5% Median Household Income: $80,184 Median Home Value: $222,600

9. Fort Worth, Texas Average Savings Account Rate: 0.07% APY Sales Tax: 8.25% Unemployment Rate: 5.5% Median Household Income: $56,691 Median Home Value: $130,100

10. Orlando, Florida Average Savings Account Rate: 0.10% APY Sales Tax: 6.5% Unemployment Rate: 5.5% Median Household Income: $47,965 Median Home Value: $133,700

This article was written by Casey Bond, managing editor of GOBankingRates.com, a leading consumer banking and personal finance website that specializes in connecting consumers with thebest interest rates nationwide.

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