Floyd County among ‘lowest debt’ counties in Iowa

Floyd County among ‘lowest debt’ counties in Iowa

A recent study by SmartAsset, a financial technology company in New York, listed Floyd County as “one of the best in Iowa” when it comes to debt per capita. Floyd is ranked No. 10 of the top Iowa counties.

In determining the rankings of the lowest per capita debt among Iowa counties, the study used averages of income, credit card debt as percentage of income, auto debt as percentage of income and mortgage debt as percentage of income to calculate the lowest debt index.

Floyd County’s lowest debt index is 90.40, as compared to Wright County, No. 1 on the list, which is 96.91. Floyd County’s average income was calculated by SmartAsset at $24,590, with an average 7 percent of credit card debt, 9.4 percent of auto debt, and 82.9 percent mortgage debt.

Clay County followed Wright at No. 2, with a lowest debt index of 95.57; Jackson County placed just above Floyd at No. 9, with a lowest debt index of 91.18.

Staff report