NEW YORK CITY – Rockwall County residents have the sixth highest amount of purchasing power in the nation, factoring in median income and cost of living, according to a study just released by SmartAsset.
Using a 2014 US Census Bureau 2014 five-year consumer expenditure survey, the study aimed “to find the places where average living expenses are most affordable to the people who live there,” explained the company on its website.
“To find these counties we looked at the cost of living relative to income to determine the purchasing power.”
With a median income of $86,597 and cost of living listed as $$42,990, Rockwall County has a 96.96 Purchasing Power Index, compared to 100 in Denali, Alaska.
The counties ahead of Rockwall and their purchasing power index were:
Ft. Bend TX, Collin TX, Lincoln SD and Borden TX round out the top 10.
The nation’s median income is $53,482 and cost of living is $34,071, according to the study.
See the complete study by clicking here.
(Now if only we could just solve our traffic problems!)