Report Finds Northeast Texas the Place to Save Money
A new report from ranks three counties in Northeast Texas among the best places to save in the state and country. If you make the median salary, that is.
The report, issued Tuesday by SmartAsset, finds Collin and Rockwall counties among the top 15 places in the country to save money. Denton County, which ranked sixth in Texas, ranked 51st overall in the US.
The rankings are based in the difference between median income and the cost of living in those counties. While Collin and Rockwall average out to a median household income of about $85,000 a year, median income in Denton County is $70,000 a year.
Those figures are all more than twice the cost of living in all three counties. In all counties between Dallas and Lamar, cost of living was at least 30 percent lower than median household income.
The least likely place to save money in Texas? Brookes County, where cost of living in early $7,000 more a year than median income.