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Utah Business

Most Financially Healthy Places in Utah

A SmartAsset study from this year calculated the financial health of counties around the United States. To calculate the Financial Health Index, the study looked at debt as a percent of income, bankruptcies, poverty rates and unemployment rates. It then ranked the counties on each of the categories and then indexed each category, then added those indices together and indexed them.

No Utah counties even broke into the top 100 counties in the nation for financial health, with Summit County topping the Utah ranks as the No. 288 financially healthiest county in the state.

Here’s how Utah shapes up versus the financially healthiest counties in the United States.

Rank County Debt as a Percentage of Income Bankruptcies Poverty Rate Unemployment Rate Financial Health Index
1 Los Alamos, NM 1.18% 0.39 4.00% 4.20% 100.00
2 Iowa, IA 0.99% 0.49 6.90% 3.10% 96.45
3 Grundy, IA 1.14% 0.49 6.30% 3.50% 96.14
4 Falls Church City, VA 1.56% 1.28 3.40% 2.70% 94.72
5 Lincoln, SD 1.54% 1.12 4.30% 2.00 94.66
National Average 1.21% 2.37 14.70% 4.87%
288 Summit, UT 2.49% 1.24 6.20% 3.10% 82.32
794 Wasatch, UT 2.74% 2.23 6.90% 3.30% 73.74
1001 Davis, UT 2.12% 3.75 6.90% 3.10% 70.62

The county with the lowest debt as a percentage of income in the state was Duchesne, at 1.38 percent. In the U.S. the county is Clay, IL, with 0.42 percent.

The county with the lowest amount of bankruptcies was Summit, with 1.24. In the U.S., it was Calhoun, TX, with 0.09.

The county with the lowest poverty rate was Summit, with 6.20 percent. In the U.S., it was Falls Church, VA, with 3.40 percent.

The county with the lowest unemployment rate was Utah, with 3.00 percent. In the U.S., it was Lincoln, SD, with 2.00 percent.

Source: SmartAsset, “Most Financially Healthy Places,” 2018.