Economic data studies encouraging for county

Several studies analyzing the financial data from counties across the country by a financial advisor firm place Kingfisher County as one of the strongest in the state in key areas.

While the analyses, conducted by the firm SmartAsset, rely on data collected pre-pandemic, they suggest the county may be well situated to weather the current economic downturn.

They also support what local business and government leaders have contended all along – that the county is one of the best places to live, work, spend and save.

Some of the findings released by SmartAsset over the last several months include the following:

•Kingfisher County has the second highest median income ($62,829), after Canadian County ($69,220).

Combined with a relatively low cost of living ($37,501 per year for a single adult with no dependents), that translates into buying power for local residents, whose dollars stretch farther here than nearly anywhere else in the state.

•Social Security income for retirees goes furthest in this county than any other in the state, taking into consideration cost of living and local taxes.

•Those working in the county have the second best access to workplace benefits like healthcare and retirement savings.

•As a whole, county residents are the most financially healthy in the state, considering debt as a percentage of income, bankruptcies, poverty level and the unemployment rate.

•The county is also eighth lowest in credit card debt, measured as a percentage of income.

•For prospective homebuyers, the county is one of the most economical areas to do so.

Average closing costs ($2,949) measured as a percentage (2.1%) of the median home value ($140,500) are the state’s 10 ^th lowest.

All those factors combined ranks this county as the state’s second highest in opportunities to save money.

All these analyses are based on averages, which recognize that many residents are at the bottom of the spectrum, particularly in the current economic environment.

But the SmartAsset studies also identifies county residents as the state’s ninth most charitable toward their less fortunate neighbors, based on the amount of charitable donations and the number of contributors. And spending more mon

And spending more money locally provides another benefit besides increased spending power.

The analyses reported that 30.81% of county residents depend on small business income, the sixth highest in the state.