DENVER (KDVR) — The National Retail Federation predicts a new record spending of more than $957 billion nationally on holiday shopping this year.

Denver is predicted to spend more than most cities in the country.

WalletHub released a new study that calculated the maximum holiday budget for over 550 cities in the U.S. using the population, income, age and the ratio of savings to monthly expenses.

Denver’s expected to spend a holiday budget of $1,599, but it’s not even close to the highest city budgets in the country.

Highest holiday budgets in US

  1. Palo Alto, California ($3,596)
  2. Bellevue, Washington ($3,576)
  3. Frisco, Texas ($3,546)
  4. Ellicott City, Maryland ($3,497)
  5. Flower Mound, Texas ($3,485)
  6. Sunnyvale, California ($3,483)
  7. Milpitas, California ($3,470)
  8. Mountain View, California ($3,399)
  9. Fremont, California ($3,321)
  10. The Woodlands, Texas ($3,316)

Out of the 550 cities, Denver ranks No. 124, which is closer to the top of the list than it is to the bottom.

Even the bottom of the list spending is still almost $500.

The lowest spent on the holidays is predicted to be in Lauderhill, Florida with a budget of $495. Every other city in the study is expected to spend over $500.

While Denver’s higher up on the list, many other large cities are above it, and small cities top the list. San Francisco ranks at No. 46 with the highest budget for a large city at $2,313.