This small US city will be surprisingly generous with gift-giving this holiday season

Turns out, Santa’s running a numbers racket.

If you’re wishing and hoping that the man in red brings you everything you asked for this year, a new study suggests that where you live has a lot to do with how many presents will be left under your tree this Christmas — right down to the zip code.

WalletHub took a close look at more than 550 different cities across the United States, to see just how much we’re spending — with researchers discovering a great many regional differences, as Americans start chipping away at their gift-giving budgets.

“Depending on the city…holiday budget[s] this year can range anywhere from just over $200 to more than $4,000, taking into account residents’ income, their existing debt obligations and the cost of living,” Chip Lupo of WalletHub said in a statement.

The number crunchers weighed a total of five metrics to come up with their naughty and nice list— income, age, debt-to-income ratio, monthly income-to-monthly expenses ratio, and savings-to-monthly expenses ratio.

Turns out, tony Newton, Mass. has the highest average holiday budget at $4,206, according to the site.

Of course it helps that the well-heeled Boston suburb has the third-highest median annual household income in the nation — over $185,000.

This means, WalletHub said, that the average Newton resident, with over $36,000 squirreled away in savings, has another $5,900 or more left every month after paying all their essential expenses. Which means that they can afford to be extremely generous during the festive period, the experts suggested.

New York City residents won’t exactly be giving — or getting — coal in their stockings this year, but the city’s maximum holiday budget of $1,539 pales in comparison, earning the Big Apple a shocking 163rd on the list.

Even nearby Yonkers is doing better, with a maximum holiday budget of $1,623, placing the city at No. 141.

Both cities should count their blessings compared to many other parts of the country, according to the listmakers.

Just think, you could live in Lauderhill, Fla., which came in last on the list, with the lowest holiday budget of just $217.

Residents of the Broward County burg aren’t the only ones tightening their belts, however.

US holiday sales are forecast to grow at their slowest pace since 2018 amid fears that persistent inflation is wiping out consumers’ savings, according to a new survey.

Holiday retail sales are forecast to increase between 2.3% and 3.3%, totaling up to $1.6 trillion between November and January, according to Deloitte’s annual holiday retail forecast.

That’s down from last year’s holiday season when retail sales in the same period grew 4.3% to total $1.5 trillion, according to the US Census Bureau.

The US personal savings rate dropped to 3.4% in June from 3.5% in May – making June the lowest monthly rate since 2022, according to the US Bureau of Economic Analysis.

“Rising credit card debt and the possibility that many consumers have exhausted their pandemic-era savings will likely weigh on sales growth this season compared to the previous one,” Deloitte Insights economist Akrur Barua said in a statement.

Holiday season sales typically account for more than half of US retailers’ annual revenue. But despite what shoppers spent last year, they should reevaluate their shopping list again, WalletHub, a personal financial site, suggested.

“Regardless of how well-off you are this season, it’s important to stick to a budget that fits your financial profile so you don’t rack up unsustainable debt and end up in a bad position after the holidays,” Lupo noted.

“There are plenty of ways to enjoy the holidays and show you care without spending much money, like hosting potlucks or giving handmade gifts.”