To determine where Americans are able to save the most, personal finance websitehow much money residents in the 50 largest U.S. metro areas would need to build a six-month emergency fund, factoring in costs such as median income, monthly mortgage payments, taxes, groceries, transportation, health care and utilities. Data was collected from ATTOM Data Solutions, the Council for Community and Economic Research, Insure.com, the National Bureau of Economic Research and the U.S. Census Bureau.
From there, the site found how much the typical household could potentially save each year after covering necessities, and therefore how many months it would take to build an emergency fund.Recommended six-month emergency fund: $16,915Recommended six-month emergency fund: $16,771Recommended six-month emergency fund: $15,954Annual savings potential: $16,801How long it could take to reach emergency fund goal: 12.6 monthsHow long it could take to reach emergency fund goal: 11.