La Paz county is 1st, Mohave 5th, in Arizona’s financially healthiest communities, study stays
La Paz County has the most financially healthy residents in Arizona, according to a study by SmartAsset, a New York-based financial data firm.
In the same study, Mohave County ranked fifth.
To find the most financially healthy places, SmartAsset analysts looked at average debt as a percent of income, bankruptcies per 1,000 people, poverty rates and unemployment rates. Analysts weighted debt as a percent of income at 25 percent of the overall score, while bankruptcies were weighted at 40 percent, poverty rates at 20 percent and unemployment rates at 15 percent.
La Paz County was ranked first, far outpacing other Arizona counties with a .92 % debt ratio, .54 bankruptcies per 1,000 people, and a 24.8 percent poverty and 5.4 percent rate according to 2016 statistics.
Mohave County was fifth with a debt ratio of 1.43%, 1.83 bankruptcies per 1,000 people, a poverty rate of 18.3 percent and unemployment rate of 5.9 percent in 2016.
Here’s the ranking for all Arizona counties.
RankCountyDebt as % of IncomeBankruptciesPoverty RateUnemployment RateFinancial Health Index1La Paz, AZ0.92%0.5424.80%5.40%75.302Yavapai, AZ1.46%1.7113.30%4.50%68.783Gila, AZ1.35%1.3020.30%6.10%64.384Coconino, AZ1.72%0.7317.80%5.60%63.915Mohave, AZ1.43%1.8318.30%5.90%61.206Cochise, AZ1.35%1.7821.10%5.60%60.987Pima, AZ1.57%2.3518.20%4.50%57.138Graham, AZ1.69%1.4922.90%5.40%54.649Maricopa, AZ1.84%2.5515.00%4.20%53.8110Navajo, AZ1.53%0.8128.20%7.60%53.67 AZ1.53%2.3316.40%4.87%