Kay County is in the 10 most "Financially Healthy" places in Oklahoma
Kay County made the top 10 list of the most financially healthy places to live in the state of Oklahoma, according to a recently published 2018 survey from New York-based tech company SmartAsset. The study analyzed debt, bankruptcy, poverty and unemployment in counties across the country to find where residents were most financially healthy.
Kay County ranked number nine on the list, beating out Pittsburg, Oklahoma at 10 and falling just shy of Marshall, OK at number eight. According to a detailed interactive map of Oklahoma's listed counties on SmartAsset's website, Kay County has 0.64 percent debt as a percentage of income with 2.09 bankruptcies per 1,000 individuals. The poverty rate is 16.60 percent, and the unemployment rate is 5.50 percent. As it stands, Kay County's “Financial Health Index” places it at an even 78.00. Kay County placed in the top 600 counties nationally.
To calculate the Financial Health Index, SmartAsset weighted “debt as a percent of income, 25 percent; bankruptcies, 40 percent; poverty rates, 20 percent; and unemployment rates, 15 percent.” The group then ranked the counties on each of the categories and indexed each respective category. The figures were then added together and indexed as required.
In the 2017 survey, Kay County placed 20th in the state, with a national ranking of 1,151. It had a financial health index of 68.19, a 6.40 percent unemployment rate, and an 18.70 percent poverty rate.
The most financially healthy place to live in Oklahoma for 2018 was Texas County, with Kingfisher and Woodward counties following to form the top three, respectively. Beckham, Bryan, Gavin, and Garfield counties rounded out places 4 – 7, respectively.
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