Photo by Lorie Palmer
Festivals, events and attractions help keep communities financially healthy, such as the Idaho Sawtooth Bluegrass Association Festival held each spring in Kamiah at the KOA Campground.
As of Wednesday, September 19, 2018
When it comes to being financially healthy, Idaho County isn’t a bad place to live.
Idaho County ranks number 12 in the state for its financial health.
To find the most financially healthy places, SmartAsset took a holistic approach, considering debt as a percent of income, bankruptcies per 1,000 people, poverty rates and unemployment rates.
Nationally, Idaho County ranks at number 1,145. The percentage of the count’s debt versus income is at 1.28 percent, while bankruptcies per 1,000 are at 1.73.
To calculate debt as a percent of income, SmartAsset divided debt per capita by income per capita. To calculate bankruptcies per 1,000 people, they divided total bankruptcies by the population, and multiplied that number by 1,000.
The poverty rate in Idaho County is listed as 16.3 percent, unemployment is at 5.70 percent, and the county’s financial health index is ranked at 68.27.
To calculate the Financial Health Index, SmartAsset weighed debt as a percent of income, 10 percent; bankruptcies 35 percent; poverty rates 45 percent; and unemployment rates 10 percent. They ranked the counties on each of the categories and then indexed each category. They then added those indices together and indexed that.
In this study (click here), a financially healthy county means people living in the county have low average debt as a percent of income, along with a low chance of being affected by personal bankruptcies, poverty or unemployment.
The top 10 counties in order in the state of Idaho are Blaine, Nezperce, Ada, Jefferson, Mindoka, Cassia, Gooding, Bingham, Twin Falls and Payette.
For details on Idaho, as well as other states, go to https://smartasset.com.