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Can't hang onto money? Consider Fort Bend County, steer clear of The Bronx
The people who crunch numbers at SmartAsset.com have figured out that your chances for saving money are better if you start with a bunch. Not surprisingly, affluent Fort Bend County comes out looking good.
Of course, the full picture is more complicated, but SmartAsset’s recent blog post, “Best and Worst Counties to Save Money (If You’re a Home Owner)” makes it clear that saving money is easier if you have some to start with.
Fort Bend ranks no. 7 among the nation’s top 10 counties, with a median annual household income of $84,211 and a median monthly mortgage payment of $654, or $7,842.60 annually.
Typical monthly expenses for residents of Sugar Land and other Fort Bend County communities aren’t spelled out in the blog post but, in any case, SmartAsset.com calculates their potential annual savings at $48,091.
Collin County, Texas, is close behind Fort Bend, ranking No. 8 with potential annual savings of $47,302.
The nation’s most conducive spot for saving money, according to SmartAsset.com, is Loudoun County, Va., near Washington, DC, where the median annual income of $122,068 and monthly mortgage of $1,631, leaves potential annual savings of $59,327.
Home owners in The Bronx, New York, face the bleakest financial outlook in the United States, with a potential for losing $3,393 each year. The reason, according to SmartAsset.com, is that affordable housing is scarce.
No Texas county ranked among the 10 worst for potential savings.
For the original article, click here.