A new study by SmartAsset has just ranked all counties across the country according to their adjusted purchasing power.
Here in North Carolina, a dollar in Union County goes the furthest, and Mecklenburg County was ranked as the 5th best county in our state for purchasing power.
According to the study, these are the leaders in North Carolina:
| Rank | County, State | Cost of Living | Median Income | Purchasing Power Index |
|---|---|---|---|---|
| 1 | Union, NC | $41,652 | $67,194 | 76.08 |
| 2 | Wake, NC | $44,673 | $70,620 | 74.55 |
| 3 | Orange, NC | $39,867 | $61,130 | 72.31 |
| 4 | Cabarrus, NC | $39,488 | $58,970 | 70.43 |
| 5 | Mecklenburg, NC | $39,908 | $59,268 | 70.04 |
| 6 | Chatham, NC | $40,207 | $58,555 | 68.68 |
| 7 | Currituck, NC | $42,514 | $61,086 | 67.76 |
| 8 | Camden, NC | $42,737 | $60,714 | 67.00 |
| 9 | Harnett, NC | $33,760 | $47,930 | 66.96 |
| 10 | Lincoln, NC | $34,984 | $49,283 | 66.44 |
| NC | $34,807 | $48,256 |
To determine the rankings, the report calculated the baseline cost of living in each area and the expenditures typical to someone making the county’s median income, subtracted all local income taxes, then, using a weighted average based on how close each county’s median income was to the minimum livable income in that area, they calculated the weighted cost of living as a percentage of median income.
You can read more about the study here on SmartAsset.com.